KUALA LUMPUR (Jan 13): MIDF Research has upgraded the CONSTRUCTION [] sector to Positive from Neutral.
In a note Jan 13, the research house said this was after taking into account heightened expectation of stronger orderbook replenishment in 2012.
“Execution risk will be mitigated by stronger needs to pump-prime the economy to counter the effect of the European debt crisis.
“We are upgrading Gamuda (TP: RM4.40) and MRCB (TP: RM2.40) to Buy given their stronger prospect of securing the ETP projects, namely KV MRT, Gemas-JB Railway EDTP and River of Life jobs,” it said.
In a note Jan 13, the research house said this was after taking into account heightened expectation of stronger orderbook replenishment in 2012.
“Execution risk will be mitigated by stronger needs to pump-prime the economy to counter the effect of the European debt crisis.
“We are upgrading Gamuda (TP: RM4.40) and MRCB (TP: RM2.40) to Buy given their stronger prospect of securing the ETP projects, namely KV MRT, Gemas-JB Railway EDTP and River of Life jobs,” it said.
