Reuters: Hot Stocks: STOCKS NEWS MALAYSIA-RHB raises Daibochi to outperform

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STOCKS NEWS MALAYSIA-RHB raises Daibochi to outperform Oct 29th 2012, 03:02 Sun Oct 28, 2012 11:02pm EDT RHB Research upgraded Daibochi Plastic and Packaging Industry Bhd to 'outperform' from 'market perform' after the packaging material maker posted strong results for the first nine months of 2012. Daibochi's net profit for the first nine months rose 30 percent to 18.4 million ringgit from 14.2 million ringgit last year, prompting RHB to increase its target price for the stock by 41 sen to 2.91 ringgit. RHB also raised its net profit forecasts for the next two years between 7.3 percent and 11 percent. "We raise our forecasts to reflect the higher-than-expected third quarter results and improved margins," said RHB in a report on Monday. Margins expanded due to a favourable sales mix and improved wastage control, added RHB. Shares of the company rose 1.53 percent to 2.66 ringgit, their highest in 16 years. 1029 (0229 GMT) (Reporting by Al-Zaquan Amer Hamzah in Kuala Lumpur; Editing by Anand Basu; alzaquan.amerhamzah@thomsonreuters.com) **************************************************************** STOCKS NEWS MALAYSIA-Affin downgrades Berjaya Sports Toto Affin Investment Bank downgraded Malaysian betting firm Berjaya Sports Toto to 'add' from 'buy' to reflect recent gains in the company's share price. The bank said in a research note on Monday that the firm's shares had risen just over 7 percent since mid-June, taking them closer to Affin's target price of 4.95 ringgit per share. Berjaya Sports Toto is slated for a listing on Singapore's stock exchange in January 2013. "In the longer run, the Singapore listing could help provide better financial funding and capital management flexibility," Affin added. At 1001 (0201 GMT) Berjaya Sports Toto shares were unchanged at 4.43 ringgit per share while the benchmark composite index was up 0.33 percent at 1,677.42 1005 (0205 GMT) (Reporting by Siva Sithraputhran in Kuala Lumpur; Editing by Sunil Nair; siva.sithraputhran@thomsonreuters.com) Link this Share this Digg this Email Reprints

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