Stock Name: PROTON
Company Name: PROTON HOLDINGS BHD
Research House: AMMB
KUALA LUMPUR: PROTON HOLDINGS BHD [] is the top loser in afternoon trade on Friday, March 4 as investors ignored its proposed collaboration with Nissan while worries about it becoming profitable weighed on sentiment.
At 2.30pm, Proton was down 22 sen to RM3.23 with 1.03 million shares done.
The FBM KLCI rose 14.62 points to 1,521.50. Turnover was 522.24 million shares done valued at RM850 million.'' There were 549 gainers, 150 losers and 242 stocks unchanged.
However, AmResearch reaffirm its contrarian BUY call on Proton with an unchanged fair value of RM5.10 a share, pegging it at 0.7 times FY12F adjusted NTA of RM7.30/share.
AmResearch said it anticipated the deal with Nissan to involve the use of Nissan Fuga as a replacement model for the Perdana and the use of Nissan March platform for Proton's EMAS model (whereby the upper body will be Lotus designed).
'We are positive about this development. We believe depressed earnings affected by Lotus' turnaround plan over the mid-term are more than priced-in,' it said.
Company Name: PROTON HOLDINGS BHD
Research House: AMMB
KUALA LUMPUR: PROTON HOLDINGS BHD [] is the top loser in afternoon trade on Friday, March 4 as investors ignored its proposed collaboration with Nissan while worries about it becoming profitable weighed on sentiment.
At 2.30pm, Proton was down 22 sen to RM3.23 with 1.03 million shares done.
The FBM KLCI rose 14.62 points to 1,521.50. Turnover was 522.24 million shares done valued at RM850 million.'' There were 549 gainers, 150 losers and 242 stocks unchanged.
However, AmResearch reaffirm its contrarian BUY call on Proton with an unchanged fair value of RM5.10 a share, pegging it at 0.7 times FY12F adjusted NTA of RM7.30/share.
AmResearch said it anticipated the deal with Nissan to involve the use of Nissan Fuga as a replacement model for the Perdana and the use of Nissan March platform for Proton's EMAS model (whereby the upper body will be Lotus designed).
'We are positive about this development. We believe depressed earnings affected by Lotus' turnaround plan over the mid-term are more than priced-in,' it said.
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