Stock Name: GAMUDA
Company Name: GAMUDA BHD
Research House: MIDF
Company Name: GAMUDA BHD
Research House: MIDF
MIDF Research sees ample room for Gamuda Bhd's financial year 2011's profit to exceed its 19 per cent growth target year-on-year on more jobs rollouts in the future.
In a note today, MIDF said the optimism was supported by Gamuda's earnings and margins improvements, the high likelihood of getting the tunnelling portion of the mass rapid transit project and contributions from property ventures.
MIDF said Gamuda's gross margins year-on-year were expected to improve to 12 per cent from nine per cent in the first quarter of 2010.
It said it would maintain its 'buy' recommendation on Gamuda with an unchanged target price at RM4.68. -- Bernama
In a note today, MIDF said the optimism was supported by Gamuda's earnings and margins improvements, the high likelihood of getting the tunnelling portion of the mass rapid transit project and contributions from property ventures.
MIDF said Gamuda's gross margins year-on-year were expected to improve to 12 per cent from nine per cent in the first quarter of 2010.
It said it would maintain its 'buy' recommendation on Gamuda with an unchanged target price at RM4.68. -- Bernama
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