SPY376.70-4.72 -1.24%
DIA309.58-3.41 -1.09%
IXIC12,723.47-274.28 -2.11%

DJ Leong Hup International's Near-Term Prospects Improving -- Market Talk

· 02/08/2021 00:30

0530 GMT - Leong Hup International's near-term prospects are turning positive on the back of recent improvement in livestock prices in Malaysia and Indonesia, Hong Leong Investment Bank says. While it remains to be seen if recent recovery in livestock prices sustain over the longer term, Hong Leong believes it's unlikely that poultry product prices will revisit their previous lows. It upgrades the stock's rating to buy from hold, given the more palatable valuation following the recent share price retracement, and keeps target price unchanged at MYR0.76. Shares are down 0.7% at MYR0.68. (chester.tay@wsj.com)

(END) Dow Jones Newswires

February 08, 2021 00:30 ET (05:30 GMT)

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