KUALA LUMPUR: Kenanga Research has downgraded Scientex Bhd
to Underperform from Outperform, slashing target price to RM5.49 from RM7.63 following first quarter results that were weaker than expected.
The plastic packaging manufacturer and property developer’s 1Q15 net profit of RM30.3mil was below expectations, making up only 17.9% of the research house’s full year forecast of RM169.7mil – already lower than consensus forecast of RM180.3mil.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
