Stock Name: PROTON
Company Name: PROTON HOLDINGS BHD
Stock Name: TCHONG
Company Name: TAN CHONG MOTOR HOLDINGS BHD
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Stock Name: UMW
Company Name: UMW HOLDINGS BHD
MIDF Research has maintained its 'neutral' call on the automotive sector.
In a note today, MIDF said although the supply situation post-Japan calamities was under control and the recovery appeared to be earlier than expected, there was still some uncertainty at this juncture.
"We believe the full impact of the post-Japan calamities on local carmakers will only be felt over the next few months," it said.
MIDF said the lower vehicle sales in May 2011 were expected as the spillover effect on car supply shortages from post-Japan calamities has finally kicked in.
It said while demand was still strong, vehicle sales would continue to be weighed down further for another two to three months by supply constraints.
It said Perusahaan Otomobil Kedua Sdn Bhd was expected to gain its momentum in the market share in the months ahead as it ramped up production of the new Myvi.
The Korean marques would continue to benefit due to the shortage of Japanese marques to post positive growth on a month on-month basis, it said.
MIDF has recommended a 'buy' call on Proton with a target price (TP) of RM4 and 'neutral' call on Tan Chong Motors (TP:RM4.94), MBM Resources (TP:RM3.20) and UMW Holdings (TP:RM7). -- Bernama
Company Name: PROTON HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.00 |
Stock Name: TCHONG
Company Name: TAN CHONG MOTOR HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 4.94 |
Stock Name: MBMR
Company Name: MBM RESOURCES BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 3.20 |
Stock Name: UMW
Company Name: UMW HOLDINGS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 7.00 |
MIDF Research has maintained its 'neutral' call on the automotive sector.
In a note today, MIDF said although the supply situation post-Japan calamities was under control and the recovery appeared to be earlier than expected, there was still some uncertainty at this juncture.
"We believe the full impact of the post-Japan calamities on local carmakers will only be felt over the next few months," it said.
MIDF said the lower vehicle sales in May 2011 were expected as the spillover effect on car supply shortages from post-Japan calamities has finally kicked in.
It said while demand was still strong, vehicle sales would continue to be weighed down further for another two to three months by supply constraints.
It said Perusahaan Otomobil Kedua Sdn Bhd was expected to gain its momentum in the market share in the months ahead as it ramped up production of the new Myvi.
The Korean marques would continue to benefit due to the shortage of Japanese marques to post positive growth on a month on-month basis, it said.
MIDF has recommended a 'buy' call on Proton with a target price (TP) of RM4 and 'neutral' call on Tan Chong Motors (TP:RM4.94), MBM Resources (TP:RM3.20) and UMW Holdings (TP:RM7). -- Bernama
No comments:
Post a Comment