Stock Name: JTIASA
Company Name: JAYA TIASA HOLDINGS BHD
KUALA LUMPUR: Affin Investment Bank downgraded Jaya Tiasa Holdings Bhd to 'add' from 'buy' and cut its target price to RM2.78 per share from RM3.07, after the timber and plantation firm's earnings missed market expectations.
The research house trimmed its net profit forecast for Jaya Tiasa for the financial year ending June 30, 2013, by 6 per cent, citing lower plywood output and higher production costs.
Nonetheless, Affin said it still prefers Jaya Tiasa for exposure to the timber sector, mainly due to the company's less reliance on Japan for a recovery and strong exposure to palm oil production.
By 10:15am (0215 GMT), the counter rose 0.79 per cent to RM2.54, while the broader index dropped 0.02 per cent. -- Reuters
Company Name: JAYA TIASA HOLDINGS BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 2.78 |
KUALA LUMPUR: Affin Investment Bank downgraded Jaya Tiasa Holdings Bhd to 'add' from 'buy' and cut its target price to RM2.78 per share from RM3.07, after the timber and plantation firm's earnings missed market expectations.
The research house trimmed its net profit forecast for Jaya Tiasa for the financial year ending June 30, 2013, by 6 per cent, citing lower plywood output and higher production costs.
Nonetheless, Affin said it still prefers Jaya Tiasa for exposure to the timber sector, mainly due to the company's less reliance on Japan for a recovery and strong exposure to palm oil production.
By 10:15am (0215 GMT), the counter rose 0.79 per cent to RM2.54, while the broader index dropped 0.02 per cent. -- Reuters
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