Nikkei Markets

  KUALA LUMPUR (Aug 24) -- UCHI Technologies jumps 6.7% to record high of MYR2.24 after company posted 2Q earnings growth of 37.3% on year, beating expectations.

Affin Hwang Investment Bank raises view to Buy from Hold, revises target price to MYR2.67 from MYR1.81.

Shares now +4.8% at MYR2.20. "We raise our 2017-19 EPS forecasts by 14%-30% to account for the improved near-term outlook resulting from better demand for high-end automated coffee machines from its end-customer Jura," says house in investor note; adds, undemanding valuation (2018's PE of 13x) and attractive dividend yield of 7.6% raise share's apppeal.

  - By Chong Sin Hao; Dave.Chong@nikkeinewsrise.com; +60320267363
- Edited By Abhrajit Gangopadhyay
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.