Stock Name: DAIBOCI
Company Name: DAIBOCHI PLASTIC & PACKAGING
RHB Research downgraded Daibochi Plastic and Packaging Industry Bhd to "underperform" from "market perform", citing cautious industry outlook for the flexible packaging firm going forward.
"We remain conservative on the outlook for the flexible packaging industry as there could still be earnings risk due to the volatility of raw material prices that could have an impact on margins," the broker said in a research note on Monday.
Maintaining fair value of RM2.78 per share on Daibochi, RHB said the downgrade was also due to the recent run-up in the counter's share price, which had climbed 6.1 percent year to date.
-- Reuters
Company Name: DAIBOCHI PLASTIC & PACKAGING
| Research House: RHB | Price Call: SELL | Target Price: 2.78 |
RHB Research downgraded Daibochi Plastic and Packaging Industry Bhd to "underperform" from "market perform", citing cautious industry outlook for the flexible packaging firm going forward.
"We remain conservative on the outlook for the flexible packaging industry as there could still be earnings risk due to the volatility of raw material prices that could have an impact on margins," the broker said in a research note on Monday.
Maintaining fair value of RM2.78 per share on Daibochi, RHB said the downgrade was also due to the recent run-up in the counter's share price, which had climbed 6.1 percent year to date.
-- Reuters
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