Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Sept 6): Telekom Malaysia Bhd's (TM) share price jumped as much as nine sen or 2.65% to RM3.48 in morning trades in an apparent response to the stock's upgrade by Goldman Sachs to neutral from sell. 

Bloomberg reported that Goldman however lowered its TM target price (TP) to RM3.60 from RM3.65.

"TM average TP is RM3.93. Analysts raised their consensus one-year TP for the stock by 2% in the past three months. Forecasts range from RM2.70 to RM5.

"In the past three years and one month, Goldman has rated TM sell once, neutral once and buy once. The shares fell 26% in the period rated sell, rose 87% in the period rated neutral and fell 64% in the period rated buy. TM reported earnings that trailed and sales that topped estimates for the quarter on Aug 28," Bloomberg said.

At Bursa Malaysia today, TM shares were traded at RM3.48 at 9:42am to emerge among the bourse's top gainers. TM saw some three miliion shares transacted.
 

      Print
      Text Size
      Share