KUALA LUMPUR (April 23): Maybank Investment Bank Bhd Research has maintained its Buyrating on GAMUDA BHD [] at RM3.57 with a target price of RM4.10 and said the MMC-Gamuda JV's MYR8.28 billion win for the KVMRT Sg Buloh-Kajang (SBK) tunnelling works has enhanced Gamuda’s earnings visibility into 2017, and should provide for earnings growth, at least, into FY13-14.
“We raise our earnings forecasts marginally which have earlier imputed MYR3 billion job win potential for FY12. Our MYR4.10 RNAV-based target price is unchanged.
“Trading at just 12.3 times one-year forward earnings (16 times mean), the stock is undervalued. Maintain Buy,” it said on Monday.
“We raise our earnings forecasts marginally which have earlier imputed MYR3 billion job win potential for FY12. Our MYR4.10 RNAV-based target price is unchanged.
“Trading at just 12.3 times one-year forward earnings (16 times mean), the stock is undervalued. Maintain Buy,” it said on Monday.
