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KUALA LUMPUR (June 28): At least three research houses have lowered their target prices (TPs) for MyNews Holdings Bhd following the announcement of its largest quarterly loss since it was listed in 2016.
CGS-CIMB Research has lowered its TP for the stock to 91 sen from RM1, followed by RHB Investment Bank Research (RHB Research) to RM1.20 from RM1.25 and Kenanga Research to 95 sen from RM1.
MyNews’ stock was down three sen or 3.39% this morning to 85.5 sen.
To recap, MyNews net loss widened further to RM10.32 million for the second quarter ended April 30, 2021 (2QFY21), compared with a net loss of RM2.33 million during the same quarter a year ago.
KUALA LUMPUR (May 3): Some analysts have revised up their target prices (TPs) and earnings forecasts for MR DIY Group (M) Bhd after its profit for the first quarter ended March 31, 2021 (1QFY21) beat their expectations.
UOB Kay Hian analyst Philip Wong said in a note today MR DIY’s 1QFY21 earnings beat the research house s expectations on the back of its resounding in-store sales and accelerated store expansion.
“We raise our FY21-23 revenue per store growth assumption to 15%/0%/2% from 10%/2%/2% previously and our net store addition assumptions to 200/190/170 from 175 a year previously.
“Our FY21-23 earnings forecasts are raised by 4%/8%/8% respectively. Key downside risks are a sharp weakening of the ringgit against the renminbi (yuan) and trade restrictions by China,” he added.