Reuters: Hot Stocks: STOCKS NEWS MALAYSIA-Maybank raises UMW to buy

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STOCKS NEWS MALAYSIA-Maybank raises UMW to buy Apr 23rd 2012, 02:17 Sun Apr 22, 2012 10:17pm EDT Maybank IB Research upgraded Malaysia's conglomerate UMW Holdings Bhd to buy with a higher target price of 8.35 ringgit per share as it saw potential recoveries at the latter's automotive and oil and gas sectors. "With market already absorbing the anticipated weak first quarter of this year and its 2011 kitchen-sinking exercise, UM now offers a recovery play angle with modest growth and undemanding valuations, supported by a decent dividend yield of six percent," the broker said in a research note on Monday. Maybank lifted its net earnings forecast on UM by 10-11 percent in 2012-2013, while it also upped UMW's dividend per share forecast to 41 sen in 2012 and 46 sen in 2013. By 0210 GMT, UM shares rose 0.40 percent, outperforming the Malaysian benchmark stock index that dropped 0.54 percent. (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com) **************************************************************** STOCKS NEWS MALAYSIA-Hong Leong ups Digi.com to hold Hong Leong Investment Bank Research upgraded Digi.com Bhd to hold and raised its target price to 3.77 ringgit per share from 3.17 ringgit previously, citing positive outlook ahead for the country's No.3 telco. "Mobile internet growth, margin improvements from its network sharing with Celcom and further capital management could see additional returns to shareholders," the broker said in a research note on Monday. Hong Leong said Digi's network sharing with Celcom was executed well and the cost savings from the collaboration was expected to materialise more significantly in the second half of this year. By 0147 GMT, Digi's shares rose 0.26 percent, outperforming the Malaysia's benchmark stock index that shed 0.32 percent. (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com) **************************************************************** STOCKS NEWS MALAYSIA-RHB trims TRC Synergy's fair value RHB Research trimmed builder TRC Synergy's fair value by 12 percent to 85 sen a share from 96 sen previously, as it was getting less enthusiastic on construction stocks ahead of Malaysia's upcoming general election. "We believe their share price performance is likely to be capped over the next 6-12 months as the market begins to price in a higher risk premium for construction stocks ahead of the nation's general election that will have to be held by March 2013," the broker said in a research note on Monday. Maintaining outperform on the counter, RHB cut TRC's 2012-2014 net profit forecasts by 8-14 percent in a move to reflect lower construction margins in the absence of new contracts in the immediate term. Shares of TRC opened unchanged at 74 sen on Monday, as compared with the Malaysia's benchmark stock index that opened 0.09 percent lower. (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com) Link this Share this Digg this Email Reprints

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