PLUS raised to 'trading buy' at RM5.20

Company Name : PLUS
Target Price: RM5.20
Research Company: RHB


PLUS Expressways Bhd, Malaysia’s biggest toll road operator, was upgraded to “trading buy” from “underperform” at RHB Research Institute Sdn Bhd after receiving a RM26 billion takeover offer from Jelas Ulung Sdn Bhd, topping a rival bid.


The fair value was raised to RM5.20 from RM4.60 to “match the latest offer,” Lim Tee Yang, an analyst at RHB Research said in a report today. --


Source:Bloomberg
Tuesday, December 21, 2010, 10.08 AM