AmInvestment Bank suggests 'underweight' on Tan Chong stock ...

AmInvestment Bank suggests 'underweight' on Tan Chong stock due to ongoing losses and a weak ringgit. The bank also highlights increasing competition in the industry with the entry of various Chinese car models. Five out of seven analysts covering Tan Chong rated the stock 'sell' with the remaining two recommending a 'hold' call. The median 12-month target price stood at 78 sen, a potential of over 20% from the current share price. AmInvestment emphasizes that new car model launches are crucial for Tan Chong to turn around, but forward visibility is low due to management's reluctance to share details on upcoming model launches.