Stock Name: MEDIA
Company Name: MEDIA PRIMA BHD
Maybank IB Research upgraded Media Prima Bhd to "hold" from "sell" previously with an unchanged target price of RM2.34 per share as it expected the worst was likely over for the media conglomerate.
"We expect first quarter ended March 31, 2012 results to be weak (for Media Prima) but following quarters to be stronger on recovering advertising expenditure (adex) sentiment," the broker said in a research note on Tuesday.
Maybank IB said adex sentiment was on the mend as consumer sentiment had recovered strongly.
It added such trend boded well for adex growth in the second quarter, especially in time for the Euro Cup, London Olympics and possibly the 13th General Elections in Malaysia.
By 10.24am, Media Prima's shares rose 5.38 percent to RM2.35 per share, outperforming the Malaysia's benchmark stock index that shed 0.85 percent. -- Reuters
Company Name: MEDIA PRIMA BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 2.34 |
Maybank IB Research upgraded Media Prima Bhd to "hold" from "sell" previously with an unchanged target price of RM2.34 per share as it expected the worst was likely over for the media conglomerate.
"We expect first quarter ended March 31, 2012 results to be weak (for Media Prima) but following quarters to be stronger on recovering advertising expenditure (adex) sentiment," the broker said in a research note on Tuesday.
Maybank IB said adex sentiment was on the mend as consumer sentiment had recovered strongly.
It added such trend boded well for adex growth in the second quarter, especially in time for the Euro Cup, London Olympics and possibly the 13th General Elections in Malaysia.
By 10.24am, Media Prima's shares rose 5.38 percent to RM2.35 per share, outperforming the Malaysia's benchmark stock index that shed 0.85 percent. -- Reuters
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