Reuters: Hot Stocks: STOCKS NEWS MALAYSIA-Kenanga initiates coverage of Carlsberg with 'outperform' call

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STOCKS NEWS MALAYSIA-Kenanga initiates coverage of Carlsberg with 'outperform' call Nov 1st 2012, 02:05 Wed Oct 31, 2012 10:05pm EDT Kenanga Research initiated coverage of Carlsberg Brewery Malaysia Berhad with an 'outperform' call, given the brewer's strength in the niche beer market. The brewer has the second-biggest market share in Malaysia, at 40 percent. The firm's niche products will help the company expand market share by 1.5 percent by June, Kenanga said in a note on Thursday. "Carlsberg is the leader in the super premium segment, albeit the segment is still relatively new and small," Kenanga said. "We believe that Carlsberg will be better positioned to compete with Guninness Anchor Berhad with its new locally brewed Asahi and the fast-growing Kronenbourg." Kenanga set a target price of 14.10 ringgit per share. At 0938, Carlsberg shares were down 0.46 percent at 13.02 ringgit, while the benchmark composite index was up 0.22 percent at 1,676.95. 0945 (0145 GMT) (Reporting by Siva Sithraputhran in Kuala Lumpur; Editing by Subhranshu Sahu; siva.sithraputhran@thomsonreuters.com) **************************************************************** 0942 STOCKS NEWS MALAYSIA-Kenanga ups Tenaga Nasional target price Kenanga Research raised its target price on Tenaga Nasional Bhd to 8.05 ringgit from 7.90 ringgit after Malaysia's largest energy provider posted a full-year net profit of 3.35 billion ringgit in line with market estimates. The brokerage maintained its 'outperform' call on the stock. Costs for the financial year ended Aug. 31 were contained with higher coal usage and gas supply, said Kenanga in a report on Thursday. Kenanga added that the downside risk to Tenaga is limited after assurance from the government that compensations for fuel costs will continue, as asserted by the company this week. Discounting the compensation of 1.48 billion ringgit for the full year, net profit rose 34.2 percent to 2.9 billion ringgit from 2.2 billion ringgit. Shares of the company rose 0.72 percent to 7 ringgit. 0928 (0128 GMT) (Reporting by Al-Zaquan Amer Hamzah in Kuala Lumpur; Editing by Anand Basu; alzaquan.amerhamzah@thomsonreuters.com) Link this Share this Digg this Email Reprints

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