Bursa Malaysia Stock Watch
PLUS - PLUS falls on HwangDBS downgrade
kltrader
Publish date: Mon, 18 Oct 2010, 12:06 PM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Stock Name: PLUS
Company Name: PLUS EXPRESSWAYS BHD
Research House: HWANGDBS
PLUS Expressways Bhd, Malaysia's biggest toll-road operator, fell the most in almost one month in Kuala Lumpur trading after the Employees Provident Fund and UEM Group Bhd made a RM23 billion buyout offer that valued the company at RM4.60 per share.
Its shares fell 1.1 per cent to RM4.41 at 9.25 am local time, their biggest drop since Sept. 20.
HwangDBS Vickers Research Sdn Bhd downgraded the stock to "hold" from "buy" and said in a report today that there was now limited upside to the stock and investors may want to take profit.
Meanwhile, PLUS was downgraded to "underperform" from "outperform" at RHB Research Institute Sdn Bhd which cut its fair value to match a buyout offer from the Employees Provident Fund and UEM Group Bhd.
The research said in a report today it cut its fair value to RM4.60 from RM4.76. - Bloomberg
Company Name: PLUS EXPRESSWAYS BHD
Research House: HWANGDBS
PLUS Expressways Bhd, Malaysia's biggest toll-road operator, fell the most in almost one month in Kuala Lumpur trading after the Employees Provident Fund and UEM Group Bhd made a RM23 billion buyout offer that valued the company at RM4.60 per share.
Its shares fell 1.1 per cent to RM4.41 at 9.25 am local time, their biggest drop since Sept. 20.
HwangDBS Vickers Research Sdn Bhd downgraded the stock to "hold" from "buy" and said in a report today that there was now limited upside to the stock and investors may want to take profit.
Meanwhile, PLUS was downgraded to "underperform" from "outperform" at RHB Research Institute Sdn Bhd which cut its fair value to match a buyout offer from the Employees Provident Fund and UEM Group Bhd.
The research said in a report today it cut its fair value to RM4.60 from RM4.76. - Bloomberg
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