Stock Name: TSH
Company Name: TSH RESOURCES BHD
Research House: MIDF
KUALA LUMPUR: TSH RESOURCES BHD [] shares advanced on Tuesday, Oct 19 after MIDF Research maintained its buy call on the stock at RM2.26 and raised its target price to RM2.65 from RM2.30 previously.
At 9.43am, TSH was up two sen to RM2.31 with 50,400 shares done.
The research house said it was raising its forecast earnings for TSH for FY11 by 5%, translating into a 27% growth from its unchanged FY10 earnings forecast.
"This is in accordance with the management's projection for total output to increase by 11.5% next year with the maturing of 3,100ha of the planted areas.
"With CPO prices traded between RM2,700'RM2,900, and is expected to rise until early 2011, the 27% increase in FY11 forecast earnings seem reasonable," it said in a note on Tuesday.
Company Name: TSH RESOURCES BHD
Research House: MIDF
KUALA LUMPUR: TSH RESOURCES BHD [] shares advanced on Tuesday, Oct 19 after MIDF Research maintained its buy call on the stock at RM2.26 and raised its target price to RM2.65 from RM2.30 previously.
At 9.43am, TSH was up two sen to RM2.31 with 50,400 shares done.
The research house said it was raising its forecast earnings for TSH for FY11 by 5%, translating into a 27% growth from its unchanged FY10 earnings forecast.
"This is in accordance with the management's projection for total output to increase by 11.5% next year with the maturing of 3,100ha of the planted areas.
"With CPO prices traded between RM2,700'RM2,900, and is expected to rise until early 2011, the 27% increase in FY11 forecast earnings seem reasonable," it said in a note on Tuesday.
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