Stock Name: LITRAK
Company Name: LINGKARAN TRANS KOTA HOLDINGS
Research House: OSK
Company Name: LINGKARAN TRANS KOTA HOLDINGS
Research House: OSK
OSK Research has maintained its "Buy" recommendation for Lingkaran Trans Kota Holdings Bhd (LITRAK), with RM4.16 lower target price.
The research firm said it has raised LITRAK's financial year 2011, 2012 and 2013 earnings by 3.9 per cent; 1.6 per cent; and
1.1 per cent on lower loss projections for SPRINT Highway.
"We have also updated LITRAK's latest cash balance into our model, which is down slightly. The net impact of these challenges is a cut in our target price from RM4.22 to RM4.16," it said in a research note today.
Meanwhile, OSK Research said the recent approval of PLUS' privatisation was positive for LITRAK since it would be the only listed toll concessionaire, and hence would benefit from the potential switching play.
LITRAK is the toll concessionaire for the Damansara-Puchong Highway and it owned 50 per cent stake in the SPRINT Highway. -- Bernama
The research firm said it has raised LITRAK's financial year 2011, 2012 and 2013 earnings by 3.9 per cent; 1.6 per cent; and
1.1 per cent on lower loss projections for SPRINT Highway.
"We have also updated LITRAK's latest cash balance into our model, which is down slightly. The net impact of these challenges is a cut in our target price from RM4.22 to RM4.16," it said in a research note today.
Meanwhile, OSK Research said the recent approval of PLUS' privatisation was positive for LITRAK since it would be the only listed toll concessionaire, and hence would benefit from the potential switching play.
LITRAK is the toll concessionaire for the Damansara-Puchong Highway and it owned 50 per cent stake in the SPRINT Highway. -- Bernama
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