Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Affin Investment Bank upgraded Malaysia Marine and Heavy Engineering Holdings Bhd to "reduce" from "sell" and raised its target price to RM4.60 per share from RM4.02, on optimism about the oil and gas service firm's future contract flow.
"Taken together the 13 percent fall in share price year to date, we think that further downside is limited," the research house said in a note on Tuesday.
Affin raised Malaysia Marine's FY2012-FY2013 contract win assumptions to RM3 billion-RM4 billion (US$980.23 million-US$1.31 billion) from RM2-3 billion previously. The brokerage also lifted its FY2013-FY2014 earnings per share forecast by 13-14 percent. -- Reuters
Company Name: MALAYSIA MARINE AND HEAVY ENG
| Research House: AFFIN | Price Call: TRADING SELL | Target Price: 4.02 |
Affin Investment Bank upgraded Malaysia Marine and Heavy Engineering Holdings Bhd to "reduce" from "sell" and raised its target price to RM4.60 per share from RM4.02, on optimism about the oil and gas service firm's future contract flow.
"Taken together the 13 percent fall in share price year to date, we think that further downside is limited," the research house said in a note on Tuesday.
Affin raised Malaysia Marine's FY2012-FY2013 contract win assumptions to RM3 billion-RM4 billion (US$980.23 million-US$1.31 billion) from RM2-3 billion previously. The brokerage also lifted its FY2013-FY2014 earnings per share forecast by 13-14 percent. -- Reuters
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