CIMB Research initiated coverage on Petronas Chemical or PCHEM today with OUTPERFROM call with Target Price of RM7.25. At the close, PCHEM lost 10 sen to close at RM5.86.
My view:
PCHEM is a FBM KLCI stocks and for this counter to go down so much when CIMB initiate coverage on this stock is something rarely seen. However, to be fair the South East Asia market performed badly today with Jakarta Composite Index down 152.90 points to 3478.55 and Singapore Straits Times Index lost 32.08 points to 3229.27 points.
All these seems like foreign funds have started to take profit. Be careful and start to unload $ from now onwards...
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
No comments:
Post a Comment