Bursa Malaysia Stock Watch
MMCCORP - PM says MRT among large projects, MMC Corp shares up on upgrade
kltrader
Publish date: Fri, 01 Oct 2010, 03:08 PM
kltrader
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Stock Name: MMCCORP
Company Name: MMC CORPORATION BHD
Research House: CREDIT SUISSE
KUALA LUMPUR: Shares of MMC Corp rose in the morning session on Friday, Oct 1 after Credit Suisse upgraded it to an Outperform and raised the target price to RM3.80.
At 11.17am, MMC Corp was up 12 sen to RM3.12 with 4.13 million shares done.
The positive sentiment was also boosted by a wire report that the government would soon announce seven large projects including the mass rail transit (MRT) soon in Kuala Lumpur.
Prime Minister Datuk Seri Najib Razak was quoted saying the government was ready to announce the seven huge projects soon. 'The MRT will be one of our largest projects and it will have a huge impact to the country's economy,' he said.
Meanwhile, Credit Suisse upgraded MMC Corp to an Outperform (from Neutral), as the market had underappreciated two key developments on the stock. They were the South Johor land and the Kuala Lumpur MRT. It viewed MMC as a laggard play on these developments.
Company Name: MMC CORPORATION BHD
Research House: CREDIT SUISSE
KUALA LUMPUR: Shares of MMC Corp rose in the morning session on Friday, Oct 1 after Credit Suisse upgraded it to an Outperform and raised the target price to RM3.80.
At 11.17am, MMC Corp was up 12 sen to RM3.12 with 4.13 million shares done.
The positive sentiment was also boosted by a wire report that the government would soon announce seven large projects including the mass rail transit (MRT) soon in Kuala Lumpur.
Prime Minister Datuk Seri Najib Razak was quoted saying the government was ready to announce the seven huge projects soon. 'The MRT will be one of our largest projects and it will have a huge impact to the country's economy,' he said.
Meanwhile, Credit Suisse upgraded MMC Corp to an Outperform (from Neutral), as the market had underappreciated two key developments on the stock. They were the South Johor land and the Kuala Lumpur MRT. It viewed MMC as a laggard play on these developments.
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