Adventa rises on higher earnings outlook
Tags: Adventa | earnings | OSK Research | Top Glove
Written by Joseph Chin
Monday, 21 December 2009 11:39
KUALA LUMPUR: Shares of Adventa rose in morning trade on Monday, Dec 21 on expectations of higher earnings for its fourth quarter results (4QFY09) to be released on Tuesday and after OSK Investment Research raised the target price from RM1.87 to RM3.58.
At 11.30am, the share price had risen six sen to RM2.94. There were 1.408 million shares done at prices ranging from RM2.89 and RM2.94.
OSK Research said it expected the earnings to be slightly better on-quarter, judging from the solid performance earlier of its peer, Top Glove.
"Also, we understand that this would be the last quarter for recognition of the company's foreign exchange losses which should still amount to approximately RM4 million. Moving into FY10, Adventa is looking to capacity expansion again.
"We are upgrading our FY10 earnings by 42% in line with the improved numbers sans forex loss. Maintain Buy with a higher target price of RM3.58 (previously RM1.87)," it said.
Keep INVESTING Simple and Safe (KISS) ****Investment Philosophy, Strategy and various Valuation Methods**** The same forces that bring risk into investing in the stock market also make possible the large gains many investors enjoy. It’s true that the fluctuations in the market make for losses as well as gains but if you have a proven strategy and stick with it over the long term you will be a winner!****Warren Buffett: Rule No. 1 - Never lose money. Rule No. 2 - Never forget Rule No. 1.
Monday 21 December 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment