Bursa Alert
Global Market
NewsRHB cuts TRC Synergy net profit forecasts
Page 1 of 1
RHB cuts TRC Synergy net profit forecasts
by hlk Mon 23 Apr 2012, 14:12
RHB Research trimmed builder TRC Synergy's fair value by 12 percent to 85 sen a share from 96 sen previously, as it was getting less enthusiastic on construction stocks ahead of Malaysia's upcoming general election.
"We believe their share price performance is likely to be capped over the next 6-12 months as the market begins to price in a higher risk premium for construction stocks ahead of the nation's general election that will have to be held by March 2013," the broker said in a research note on Monday.
Maintaining "outperform" on the counter, RHB cut TRC's 2012-2014 net profit forecasts by 8-14 percent in a move to reflect lower construction margins in the absence of new contracts in the immediate term.
Shares of TRC opened unchanged at 74 sen on Monday, as compared with the Malaysia's benchmark stock index that opened 0.09 percent lower. -- Reuters
"We believe their share price performance is likely to be capped over the next 6-12 months as the market begins to price in a higher risk premium for construction stocks ahead of the nation's general election that will have to be held by March 2013," the broker said in a research note on Monday.
Maintaining "outperform" on the counter, RHB cut TRC's 2012-2014 net profit forecasts by 8-14 percent in a move to reflect lower construction margins in the absence of new contracts in the immediate term.
Shares of TRC opened unchanged at 74 sen on Monday, as compared with the Malaysia's benchmark stock index that opened 0.09 percent lower. -- Reuters
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» ECB cuts growth forecasts, see only gradual recovery
» Update Oil falls more than 2% after Goldman cuts forecasts
» Morgan cuts Asean stock-index forecasts
» HwangDBS cuts Parkson's earning forecasts (5657)
» S.Korea c.bank cuts 2011, 2012 growth forecasts
» Update Oil falls more than 2% after Goldman cuts forecasts
» Morgan cuts Asean stock-index forecasts
» HwangDBS cuts Parkson's earning forecasts (5657)
» S.Korea c.bank cuts 2011, 2012 growth forecasts
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum