Stock Name: MSM
Company Name: MSM MALAYSIA HOLDINGS BERHAD
Affin Investment Bank downgraded its rating on sugar producer MSM Malaysia Holdings Bhd to "reduce" from "add" as the company's results for the half-year period fell short of expectations.
MSM's core net profit for the first six months of 2012 was RM115.2 million, 17.2 percent below Affin's expectations.
Affin lowered its target price for MSM by 20 sen to RM5.10 per share, the research house said in a report on Tuesday.
Despite the downgrade, Affin expects the company to post stronger earnings in the second half as demand for sugar increases with the upcoming festive season and margins for MSM improve.
As of 10.57am, the stock dropped 0.05 percent against the Malaysian benchmark stock index's 0.92 percent rise. -- Reuters
Company Name: MSM MALAYSIA HOLDINGS BERHAD
| Research House: AFFIN | Price Call: SELL | Target Price: 5.10 |
Affin Investment Bank downgraded its rating on sugar producer MSM Malaysia Holdings Bhd to "reduce" from "add" as the company's results for the half-year period fell short of expectations.
MSM's core net profit for the first six months of 2012 was RM115.2 million, 17.2 percent below Affin's expectations.
Affin lowered its target price for MSM by 20 sen to RM5.10 per share, the research house said in a report on Tuesday.
Despite the downgrade, Affin expects the company to post stronger earnings in the second half as demand for sugar increases with the upcoming festive season and margins for MSM improve.
As of 10.57am, the stock dropped 0.05 percent against the Malaysian benchmark stock index's 0.92 percent rise. -- Reuters
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