Stock Name: PLUS
Company Name: PLUS EXPRESSWAYS BHD
Research House: OSK
OSK Research is maintaining a "buy" recommendation and has forecast a target price (TP) of RM4.84 for Plus Expressways Bhd (PLUS), against RM4.57 previously, after the company secured a tender from the National Highway Authority of India to build a four-lane highway in Gujarat.
"Our TP is, however, raised as we narrow our discount to the Free Cash Flow to Equity Valuation from 15 per cent to 10 per cent at an unchanged 9.2 per cent equity cost," said the research firm in a research note today.
OSK also said it continued to favour PLUS for its defensive qualities and decent yields. -- Bernama
Company Name: PLUS EXPRESSWAYS BHD
Research House: OSK
OSK Research is maintaining a "buy" recommendation and has forecast a target price (TP) of RM4.84 for Plus Expressways Bhd (PLUS), against RM4.57 previously, after the company secured a tender from the National Highway Authority of India to build a four-lane highway in Gujarat.
"Our TP is, however, raised as we narrow our discount to the Free Cash Flow to Equity Valuation from 15 per cent to 10 per cent at an unchanged 9.2 per cent equity cost," said the research firm in a research note today.
OSK also said it continued to favour PLUS for its defensive qualities and decent yields. -- Bernama
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