CLSA - KLSE to fall to 1,150 by year-end

Bloomberg: MALAYSIA'S stocks will likely extend declines this year, led by builders and developers on rising political uncertainties after the ruling coalition’s worst election performance, CLSA Asia-Pacific Markets said. Loong Chee Wei, a strategist at CLSA, said the nation’s Kuala Lumpur Composite Index may fall to 1,150 by year-end, from an earlier target of 1,320, he wrote in a report March 18. Loong on February 29 cut his rating on Malaysia to “neutral” from “overweight” and reduced his benchmark index forecast to 1,320 from 1,560.

MyTake: CLSA has changed its stance 2 times during a period of 3 months this year! This is certainly not right as investors will lose confidence with CLSA for being such short sighted in their calls, which seems to follow where the wind blows. I failed to understand why they say that the market will fall to 1,150 by year-end. We are currently about 30 points away to 1,150.Why not now?? Since it is a Neutral call, does it mean that the market will hang around the current region of 1,180 for the next 9 months or so and will drop back to 1,150 by year end? Just 30 points difference!! Will these people be more responsible and passionate with their call? Where is the foresight?