Tuesday, August 3, 2010

Notion VTec top loser on downgrade

KUALA LUMPUR: Shares of Notion VTec fell the most in recent months, sliding to RM2.11, which is the lowest since October 2009.

At midday on Tuesday, Aug 3, it was down 24 sen to RM2.11 with 2.2 million shares.

RHB Research Institute said while Notion's earnings may be supported by its camera segment, it was concerned on the outlook for personal computer sales and the hard disk drives.

"Given the negative view, we have cut our FY09/10-12 EPS forecasts by 21.1%, 36.2%, and 47.4% respectively. Hence, we have downgraded the stock to Underperform (from Outperform) with a fair value of RM2.07 per share," it said.

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