Friday 29 Mar 2024
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KUALA LUMPUR (Feb 18): Shares of Hovid Bhd rose in morning trades on Wednesday after RHB Research said it expected the company’s earnings to gradually recover throughout the year, assisted by new capacity injection.

At 10.31am, Hovid rose half a sen to 44 sen with 3.69 million shares done.

In a note today, RHB Researh said it was positive that Hovid’s capacity issue will finally be resolved by end-2Q15.

The research house maintained its “Neutral” rating on Hovid with a higher target price of 45 sen (from 39 sen).

“We also expect the ringgit depreciation to have minimal impact on earnings. We make no changes to our earnings forecasts,” said RHB Research.

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