Stock Name: MISC
Company Name: MISC BHD
Affin Investment Bank upgraded MISC Bhd to "trading buy" from "reduce" with a target price of RM4.70 per share, citing undemanding valuations for the shipping firm.
"MISC's share price has plunged by more than 40 percent (over the last one year) falling to a low of RM3.94 a share yesterday, which implied an attractive valuation...," the broker said in a research note on Thursday.
Affin said it believed the recent strong selling is excessive and could be propelled by foreign investors.
MISC reported a net loss of RM465.08 million for its first quarter ended March 31, 2012 dragged down by losses from the liner, petroleum and chemical segments. -- Reuters
Company Name: MISC BHD
| Research House: AFFIN | Price Call: TRADING BUY | Target Price: 4.70 |
Affin Investment Bank upgraded MISC Bhd to "trading buy" from "reduce" with a target price of RM4.70 per share, citing undemanding valuations for the shipping firm.
"MISC's share price has plunged by more than 40 percent (over the last one year) falling to a low of RM3.94 a share yesterday, which implied an attractive valuation...," the broker said in a research note on Thursday.
Affin said it believed the recent strong selling is excessive and could be propelled by foreign investors.
MISC reported a net loss of RM465.08 million for its first quarter ended March 31, 2012 dragged down by losses from the liner, petroleum and chemical segments. -- Reuters
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