Kenanga Research & Investment
Highlights / Stock Picks of the Day - Puncak Niaga Holdings Bhd ("PUNCAK”) - BUY (Raised TP)
Recall our last month (14th April) buy call for PUNCAK @ RM2.06 after the share price surpasses RM1.90. At this juncture, we believe that PUNCAK is poised for yet another up-leg after breaking out from key resistance to close at RM2.03 yesterday (Intra-day high @RM2.08). In view of positive indicators and strong trading volume, we have raised our TP further up to RM2.17 with stop-loss @RM1.91.
Source: Kenanga
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