11 Mar 15 – Press Release – Upside Potential in PUC Shares, analyst research from KIBB, RHB and Affin Hwang
Upside Potential in PUC Shares, analyst research from KIBB, RHB and Affin Hwang
PETALING JAYA, 11 March 2015 – PUC Founder (MSC) Berhad (“PUC Founder” or the “Company”), (ACE market listed, stock code: 0007), today, PUC shares closed at RM0.170 (+0.010) with a traded volume of 20million shares.
The recent brisk trading activity in Bursa Malaysia has attracted many analysts from different investment banks to set their eyes on PUC Founder shares.
On 27 January 2015, PUC share price barely closed at RM0.140, and the following day, the research team from Kenanga Investment Bank Bhd (“KIBB”) estimated an upward movement on PUC share price performance and placed a target price of RM0.160 per unit. 20 trading days after KIBB’s research write up was issued, the share price has hit above the target price of RM0.160 and closed at RM0.165.
Subsequent to that, on 4 March 2015, the research team from RHB Investment Bank (“RHB”) opined that PUC share price may climb further after surpassing the downtrend line and the 100-day moving average line in its latest session. Analysts suggest traders to buy into the counter, as a bullish bias could be present above the RM0.150 level, with a target price of RM0.190.
The research team from Affin Hwang Capital (“Affin Hwang”) has also recently came out with another technical analysis and had PUC shares featured on their Today’s Highlight section on 6 March 2015. According to the analysis, PUC share price had made a bullish breakout above the short-term downtrend line with huge spike in volume during the week. If the upward trend continues and break all the resistances at RM0.180 and RM0.216, the share may surge toward RM0.300. They opined that PUC may offer a good upside for serious investors as well.
More and more research teams from various investment banks have seen to cover and feature PUC share in their analysis, this indicates professional analysts have noticed upside potential both fundamentally and technically in PUC shares. The recent surge in share price and trading volume showed that investors possess a high level of confidence in PUC Founder’s share performance.
Issued By: Management of PUC Founder (MSC) Berhad