Stock Name: MUDAJYA
Company Name: MUDAJAYA GROUP BHD
Research House: OSK
KUALA LUMPUR: OSK Investment Research has maintain call on MUDAJAYA GROUP BHD [] at RM5.09 and raised its target price for the stock to RM7.33 (from RM6.48) after the company posted 1QFY10 earnings of RM51 million (+260% y-o-y, +23% q-o-q), which the research house said was above its own and consensus expectations.
It said Mudajaya remains its top pick in the sector and that it sees stronger showing in the subsequent quarters once Phase 2 gains further momentum.
"Forward prospects include India's UMPPs, LRT extension, domestic power plants, Saudi jobs and PFI projects. We raise our FY10-11 earnings by 13%-14%," it said.
Company Name: MUDAJAYA GROUP BHD
Research House: OSK
KUALA LUMPUR: OSK Investment Research has maintain call on MUDAJAYA GROUP BHD [] at RM5.09 and raised its target price for the stock to RM7.33 (from RM6.48) after the company posted 1QFY10 earnings of RM51 million (+260% y-o-y, +23% q-o-q), which the research house said was above its own and consensus expectations.
It said Mudajaya remains its top pick in the sector and that it sees stronger showing in the subsequent quarters once Phase 2 gains further momentum.
"Forward prospects include India's UMPPs, LRT extension, domestic power plants, Saudi jobs and PFI projects. We raise our FY10-11 earnings by 13%-14%," it said.
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