Jul 19 : Bursa Malaysia a “SELL” : Maybank reiterated again

Posted on July 19, 2010

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Source : http://www.btimes.com.my/Current_News/BTIMES/articles/20100719105556/Article/index_html

Maybank has reiterated its “sell” call on Bursa Malaysia with a price target of RM6.50.

“Results were below expectations with 1H10 (first half) net profit at 45 per cent of our full year forecast and 41 per cent of consensus,” Maybank said.

The weaker equity market in the second quarter of 2010 was a surprise, said Maybank, as it only expected slower trading activities in the second half of this year.

“We retain our earnings forecasts and target price for now.

“Although share price has also consolidated, the stock continues to be pricey,” said Maybank.

Posted in: Business, Economics