Wellcall Holdings rated new overweight at JPMorgan

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KUALA LUMPUR (Jan 30): J.P. Morgan initiated coverage of Wellcall Holdings Bhd with a recommendation of overweight.

JPMorgan predicted Wellcall Holdings will trade at RM2.10 within a year, implying a 43 percent increase from the last regular trade. The new target is 15 percent above the consensus average of RM1.82 and is at the high end of forecasts ranging from RM1.55 to RM2.10. Wellcall Holdings had 1 buy recommendation, 1 hold and 0 sells previously.

Analysts raised their consensus one-year target price for the stock by 15 percent in the past three months. Forecasts range from RM1.55 to RMR2.10.