Halcyon downgraded to 'sell' from 'hold' by UOB Kay Hian

Stock Name: Halcyon Agri
Company Name: HALCYON AGRI CORPORATION LTD

Research House: UOB KayHian

Price Call: SELL

Target Price: 0.55

SINGAPORE (May 18): UOB Kay Hian has downgraded Halcyon Agri Corp to "sell" from "hold" with a lower target price (TP) of 55 cents after the company posted lower-than-expected results for its first quarter ended March 31, 2015.

Halcyon, the supply chain manager of natural rubber, posted a net profit of US$1.2 million ($1.6 million) for the quarter, up 67% from US$0.4 million a year earlier, making up 5.2% of the research house's full-year estimates.