KNM share price going up early this morning

I am sure those who held KNM shares, were in happy mood today especially when its shares goes up. At 9.45am, KNM was up 14 sen to RM2.47 while its call warrants, KNM-CE rose 1.5 sen to 16 sen with 20.12 million units done.

The FBM KLCI rose 0.31 of a point to 1,510.89. Turnover was 213.36 million shares valued at RM233.46 million. Gainers led losers 201 to 142 while 217 stocks were unchanged.

According to OSK Research, its still maintain trading buy on the stock with a higher target price of RM2.96 from RM2.22. The reason of maintaining on Trading Buy on call of KNM is based on a higher PER valuation of 12x (previously 9x) FY11 EPS.