RESEARCH ALERT-OSK downgrades Malaysia's KNM Group
KUALA LUMPUR Jan 11 (Reuters) - OSK Investment Research on Friday downgraded to neutral its recommendation on Malaysian energy services firm KNM Group Bhd (KNMP.KL).
KNM's share price has rallied to near OSK's target price and an acquisition of a Belgian process equipment manufacturer for about 96 million Malaysian ringgit ($29.38 million) has brought risks to the firm, OSK said.
KNM shares last traded at 7.90 ringgit. OSK has a target price of 8.50 ringgit on the stock. (Reporting by Hsu Chuang Khoo; Editing by Naveen Thukral)
- Tweet this
- Share this
- Digg this
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Argentine markets fall post-default, New York hearing on Friday
- Israel, Palestinian militant groups agree to three-day Gaza truce |
- Iraqi Kurds, battling Islamist threat, press Washington for arms
- Heavy shelling, clashes spread in Libya's Tripoli