Monday, 7 May 2012

CIMB Research maintains Trading Buy on Mudajaya, target price RM3.45

KUALA LUMPUR (May 7): CIMB Research has maintained its Trading buy Rating on MUDAJAYA GROUP BHD [] at RM2.80 with a target price of RM3.45 and said that Mudajaya’s order book top-up prospects were anchored by highway and power plant jobs.

“The prospect of a new recurring income stream other than its Indian IPP adds spice. Our target price is still pegged to 40% RNAV discount.

“Newsflow is likely to be better in 2H12, which should renew interest in the stock. Mudajaya remains a Trading Buy and not an Outperform because of the political risks for the CONSTRUCTION [] sector. The key catalyst is project awards,” CIMB Research said on Monday.

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