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.
CGS-CIMB has upgraded Pharmaniaga Bhd to "hold" at RM5.27, with a higher target price (TP) of RM5.41 from RM4.15 previously, as the reseach house raised its earnings forecasts for the financial year ending Dec 31, 2021 (FY21) and FY22 to reflect Pharmaniaga's vaccine fill-and-finish venture contribution after sealing an agreement with China's Sinovac Life Sciences Co Ltd (Sinovac).