Analysts are entitled to give their fair professional opinion to the best of their knowledge. No issues with this. After all, they give Top Glove target prices, ranging from rm15 to rm45. 7 of them give TP of more than rm30. Macquarie was the first to do that on 260820 Problem is on 090920, only 2 weeks later, they (Macquarie) revised it to rm5.40 against their previous ex-bonus price of 10.13, a reduction of nearly 50% with apparently no change in fundamentals, as confirmed by 3 other analysts' reports, including the above 2 mentioned, CGSCIMB AND AFFINWANG. What gives ? Can any self-respecting professional do this ? This is giving analysts a bad name ? Or is this just a bad apple ? Your comments ?
Blog: What is your GLOVE Action? I am buying THKS. Top Pick is TOPGLOV.
2020-09-10 16:50 | Report Abuse
Analysts are entitled to give their fair professional opinion to the best of their knowledge. No issues with this. After all, they give Top Glove target prices, ranging from rm15 to rm45. 7 of them give TP of more than rm30. Macquarie was the first to do that on 260820
Problem is on 090920, only 2 weeks later, they (Macquarie) revised it to rm5.40 against their previous ex-bonus price of 10.13, a reduction of nearly 50% with apparently no change in fundamentals, as confirmed by 3 other analysts' reports, including the above 2 mentioned, CGSCIMB AND AFFINWANG.
What gives ? Can any self-respecting professional do this ? This is giving analysts a bad name ? Or is this just a bad apple ? Your comments ?