February 17, 2011

PROTON - Proton cut to 'sell' on possible Q3 loss

Stock Name: PROTON
Company Name: PROTON HOLDINGS BHD
Research House: UOB

PROTON Holdings Bhd, Malaysia’s state-controlled carmaker, was downgraded at UOB Kay Hian Holdings Ltd, which cited a possible loss in the fiscal third quarter amid “substantially” lower cash levels.

The stock was cut to “sell” from “hold” and its share price estimate reduced to RM3.75 from RM5.20, Vincent Khoo, an analyst at UOB Kay Hian, wrote in a report today. - Bloomberg

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