Kossan up on CIMB upgrade
KUALA LUMPUR (July 11): Kossan Rubber Industries Bhd gained as much as 13 sen or 1.9% after CIMB Investment Bank Bhd upped its Kossan share target price (TP) on better financial performance expectation.
Kossan shares touched their highest so far today at RM6.88.
At 2:46pm, the stock was traded at RM6.86, following trades of 918,300 shares. At RM6.86, Kossan has a market value of RM4.39 billion.
"With its new capacity coming onstream earlier than expected, our FY17-19F EPS is adjusted higher by 2.2-4.6%," CIMB analyst Walter Aw wrote in a note today.
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