Kenanga Research raised Censof Holdings Bhd's target price to 74 sen a share from 61 sen, citing better prospects for the financial management software provider.

"The implementation of Malaysia's government service tax may provide another strong catalyst to the company given that Censof has an edge in providing financial management solutions," the research house said in a note on Friday.

Maintaining an "outperform" rating on Censof, Kenanga raised its financial year ending Dec 31, 2013 earnings estimate by 21 percent to 21.8 million ringgit after realigning the projects completion timeframe and its margins assumption.

Censof ended the morning session 4 percent lower at 48 sen, underperforming the broader index's 0.04 percent rise. -- Reuters