Hi-P shares drop 14% following Maybank Kim Eng's downgrade
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
HI-P International slid amid heavy trading, following a downgrade of its stock to "sell" with a target price of S$1.22 by Maybank Kim Eng as the components manufacturer "appears overvalued compared to its global peers".
Maybank Kim Eng analyst Lai Gene Lih noted that Hi-P has outperformed its Singapore-listed peers, gaining 47 per cent as at April 8 since posting its full-year results on Feb 21. The brokerage has recommended that investors take profit following its recent rally.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
