COASTAL - Coastal downgraded to 'hold'

Stock Name: COASTAL
Company Name: COASTAL CONTRACTS BHD
Research House: AMMB

Coastal Contracts Bhd was cut to “hold” from “buy” at AmResearch Sdn Bhd as the recent surge in the Malaysian shipbuilder’s share price has reached the brokerage’s fair value of RM3.35 for the stock.

The stock slid 2 per cent to RM3.46 at 10:32 a.m. in Kuala Lumpur trading, set for its biggest decline since March 15, snapping an eight-day rally. -- Bloomberg