Reuters: Hot Stocks: STOCKS NEWS MALAYSIA-MIDF upgrades Sunway Reit to buy

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STOCKS NEWS MALAYSIA-MIDF upgrades Sunway Reit to buy Apr 26th 2012, 02:04 Wed Apr 25, 2012 10:04pm EDT MIDF Research upgraded Sunway Real Estate Investment Trust (Reit) to buy after the latter's latest earnings result exceeded market expectations. "Our forecast had underestimated the growth of the hospitality segment which had surprisingly registered commendable growth in a challenging economic environment," the broker said in a research note on Thursday. MIDF raised its target price for Sunway Reit to 1.39 ringgit per share from 1.36 ringgit previously, while it lifted the Reit's earnings forecast for the fiscal year ending June 30, 2012 by 6 percent. By 1000am (0200 GMT), Sunway Reit shares rose 2.42 percent, outperforming the Malaysia's benchmark stock index that climbed 0.08 percent. (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com)

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