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Categories
| Sime Darby up in early trade |
| Business & Market 2010 | |||
| Written by Joseph Chin | |||
| Monday, 30 August 2010 09:15 | |||
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KUALA LUMPUR: Shares of Sime Darby Bhd extended their gains in early trade on Monday, Aug 30 a research house upgraded its recommendations and upped its target price. At 9.10am, the FBM KLCI was up 7.04 points to 1,418.09. Sime Darby rose 12 sen to RM8.22 with 34,200 shares done. Last Friday, it rallied 22 sen to close at RM8.10. RHB Research had raised its fair value to RM8.35 (from RM8.00), after updating for Sime’s latest net debt balance and after reducing our holding company discount to 20% (from 25%). “We believe the worst is over for Sime and expect it to now trade in line with the market. Upgrade to Market Perform (from underperform),” it had said last Friday.
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