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Felda Global dips 1.32% on downgrade
by Cals Tue 22 Sep 2015, 23:10
- Hot Stock
[size=28]Felda Global dips 1.32% on downgrade
By Surin Murugiah / theedgemarkets.com | September 22, 2015 : 9:34 AM MYTKUALA LUMPUR (Sept 22): Shares of Felda Global Ventures Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 1.15) fell 1.32% in early trade today after AffinHwang Capital Research downgraded the stock to a “Sell” with a target price of RM1.32.
At 9.14am, FGV fell 2 sen to RM1.50 with 2.33 million shares done.
In a note today, AffinHwang said it expects the impending completion of Rajawali transactions to revive related issues which triggered heavy selling.
The research house said the strong US dollar and equity market weakness have further raised the implied premium to BWPT’s market price, EV per planted ha, net gearing and EPS dilution.
“We maintain our forecasts and target price, but downgrade FGV to Sell on valuations,” it said.
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