Stock Name: GAMUDA
Company Name: GAMUDA BHD
Overshot expectations. 1QFY12 net profit of RM132m (+50% YoY) was 28% of both our and consensus full-year forecast. Construction margin, at 11.2% gross, surprised on the upside, and management expects this to sustain. We maintain our earnings forecasts and RNAV-based TP of RM4.10 for now. Gamuda is our top pick in construction, as we remain confident of a major order book win over the near-term.
Maybank research (19 December 2011)
Click here for full report
Company Name: GAMUDA BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 4.10 |
Overshot expectations. 1QFY12 net profit of RM132m (+50% YoY) was 28% of both our and consensus full-year forecast. Construction margin, at 11.2% gross, surprised on the upside, and management expects this to sustain. We maintain our earnings forecasts and RNAV-based TP of RM4.10 for now. Gamuda is our top pick in construction, as we remain confident of a major order book win over the near-term.
Maybank research (19 December 2011)
Click here for full report
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