Reuters: Hot Stocks: STOCKS NEWS MALAYSIA-RHB upgrades UMW to outperform

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS MALAYSIA-RHB upgrades UMW to outperform May 3rd 2012, 01:58 Wed May 2, 2012 9:58pm EDT RHB Research upgraded UMW Holdings Bhd to outperform with a higher fair value of 9.40 ringgit per share from 7.30 ringgit previously, citing improving outlook for the auto-to-oil and gas conglomerate going forward. "We expect UMW first quarter earnings to be respectable that will likely prompt an upgrade in consensus estimates," the broker said in a research note on Thursday. RHB added that the Syariah compliant counter was expected to be well supported by a reasonably attractive dividend yield. UMW's dividend payout policy was 50 percent of recurring net profit. "Given the strong earnings recovery forecast for 2012, a 50 percent payout for 2012 implies a gross dividend per share of 39 sen (4.9 percent gross yield) offering a healthy absolute year on year increase," the broker said. By 953am (0153 GMT), UMW shares remained flat at 7.93 ringgit, outperforming the Malaysian benchmark stock index that shed 0.12 percent. (Reporting by Yantoultra Ngui in Kuala Lumpur; yantoultra.ngui@thomsonreuters.com)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions