Friday 16 March 2012

Affin raises Eversendai TP to RM2.33

KUALA LUMPUR (March 16) : Affin Investment Bank Bhd has raised its target price for CONSTRUCTION [] firm Eversendai Corp Bhd from RM2.30 to RM2.33.

This follows an upward revision of between 1.2%, and 3.7%, in Affin’s net profit forecast for Eversendai in the FY12 to FY14 period, the research firm said in a note on Friday.

Affin believes Eversendai shares are under-valued. Despite steady margin and profits, Affin said the stock is still trading at a price-to-earnings ratio of 10.1 times 2012 earnings versus the sector ‘s average of 13.5 times.

Eversendai shares traded unchanged at RM1.67.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.
Related Posts Plugin for WordPress, Blogger...