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http://www.theedgemarkets.com/sg/article/cityneon-says-uob-kay-hians-buy-call-may-have-sparked-rally-shares
SINGAPORE (April 15): Event services provider Cityneon Holdings says a "buy" call by UOB Kay Hian may have sparked a rally in its shares on Friday.
UOB Kay Hian had initiated coverage on the stock and published a report with a target price of 72 cents.
In its report, the research house projected strong earnings growth ahead for the company after its September 2015 acquisition of Victory Hill Exhibitions.
The acquisition gave Cityneon the rights to use the "Avengers S.T.A.T.I.O.N." and "The Transformers Experience" franchises and open more exhibits based on Marvel comics and Transformers characters, according to UOB Kay Hian.
Aside from the broker report, Cityneon says it was not aware of any other possible explanation for the trading activity in its stock.
The stock closed 11.1% higher at 55 cents.
Sent from LGE LG-E988 using GAGT
SINGAPORE (April 15): Event services provider Cityneon Holdings says a "buy" call by UOB Kay Hian may have sparked a rally in its shares on Friday.
UOB Kay Hian had initiated coverage on the stock and published a report with a target price of 72 cents.
In its report, the research house projected strong earnings growth ahead for the company after its September 2015 acquisition of Victory Hill Exhibitions.
The acquisition gave Cityneon the rights to use the "Avengers S.T.A.T.I.O.N." and "The Transformers Experience" franchises and open more exhibits based on Marvel comics and Transformers characters, according to UOB Kay Hian.
Aside from the broker report, Cityneon says it was not aware of any other possible explanation for the trading activity in its stock.
The stock closed 11.1% higher at 55 cents.
Sent from LGE LG-E988 using GAGT