Stock Name: ASIAFLE
Company Name: ASIA FILE CORPORATION BHD
Research House: TA
TA downgraded Asia File to "sell" as the stock now only offered nine per cent upside.
"We derive a new target price of RM4.40 based on FY11 PER of 8.5x," said the research firm.
"Its peers are currently trading at 9-11x earnings and we attached a discount to Asia File due to bleak outlook," said TA.
Company Name: ASIA FILE CORPORATION BHD
Research House: TA
TA downgraded Asia File to "sell" as the stock now only offered nine per cent upside.
"We derive a new target price of RM4.40 based on FY11 PER of 8.5x," said the research firm.
"Its peers are currently trading at 9-11x earnings and we attached a discount to Asia File due to bleak outlook," said TA.
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