December 7, 2011

Wah Seong price target cut, stock falls

Stock Name: WASEONG
Company Name: WAH SEONG CORPORATION BHD
Research House: HWANGDBSPrice Call: HOLDTarget Price: 2.50



Wah Seong Corp, a Malaysian pipe-coating company, fell to a one-month low in Kuala Lumpur trading after HwangDBS Vickers Research Sdn Bhd cut its price target to RM2.50 after losing potential contracts in Australia.

The stock dropped 1.5 percent to RM1.96 at 9:15 a.m. local time, set for its lowest close since Oct. 3. -- Bloomberg


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