Stock Name: MBMR
Company Name: MBM RESOURCES BHD
HwangDBS Vickers Research downgraded motor manufacturer MBM Resources Bhd to 'hold' from 'buy', saying that the stock's valuations have peaked despite its stable fundamentals.
"We downgrade MBM to hold because the earnings upside have been largely priced in," HwangDBS said in a note today.
The research house added that the stock is currently trading near its peak with a limited 14 per cent upside.
HwangDBS however raised MBM's target price to RM4.30 per share from RM3.80, adding that catalysts include a planned vehicle assembly plant and stronger demand for its alloy wheel business. - Reuters
Company Name: MBM RESOURCES BHD
| Research House: HWANGDBS | Price Call: HOLD | Target Price: 4.30 |
HwangDBS Vickers Research downgraded motor manufacturer MBM Resources Bhd to 'hold' from 'buy', saying that the stock's valuations have peaked despite its stable fundamentals.
"We downgrade MBM to hold because the earnings upside have been largely priced in," HwangDBS said in a note today.
The research house added that the stock is currently trading near its peak with a limited 14 per cent upside.
HwangDBS however raised MBM's target price to RM4.30 per share from RM3.80, adding that catalysts include a planned vehicle assembly plant and stronger demand for its alloy wheel business. - Reuters
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