Slew of job wins. Eversendai has clinched 6 projects, worth a total of
RM185m (Middle East: RM153m, Malaysia: RM32m). No change to our earnings
forecasts as we have imputed potential job wins into our model.
Additionally, we expect its upcoming 4Q11 results (due on either 28th or
29th Feb) to meet our and the market’s estimates. Despite the global
economic slowdown, we still see heightened job flows for Eversendai,
coming from government-backed projects. Maintain Buy and TP of RM2.17
(12x 2012 PER).
Maybank Research 22 Feb 2012
Click here for full report
No comments:
Post a Comment