KUALA LUMPUR (April 23): Hartalega Holdings Bhd shares rose 7.69%, more than any full-day gain since Jan 17, as Malaysia's benchmark index advanced.

Hartalega upgraded to outperform at Kenanga; price target RM5.85

Market Metrics

* Shares advanced to RM5.18, higher than any close since March 4, from RM4.81 in the previous session.

* Trading volume was 29 percent more than the 20-day average.

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 0.2 percent, and the MSCI AC Asia Pacific Index rose 0.2 percent.

Market Insights

* In the past year, the stock had a similar or greater gain three times at the close. It advanced after all three occasions. 

* Shares are at a 3.8 percent discount to the analysts' consensus target price. The stock traded at an average 5.1 percent premium over the past year.

* Kenanga Investment Bank Bhd analyst Raymond Choo upgraded the recommendation on Hartalega to outperform and assigned a target price of RM5.85 today.

* Stock declined 16 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 14 percent.