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.
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.
