Stock Name: WCT
Company Name: WCT BHD
Maintain Buy with a raised target price. 4Q 2011 results, due on 23 Feb, should at least meet our expectation for a full-year (2011) net profit of RM154m (+9% YoY). We also retain our 2012 forecast for a 9% growth in net profit, supported by strong property sales in 2011. With up to RM5b in its tender book, 2012 could turn out to be a more positive year for WCT in terms of job wins. We lift our SOP-based TP after pegging to stock to a higher 15x PER (+1SD above mean; previously 13x) on expectations of more news flow turning positive.
Maybank Research 17 Feb 2012
Click here for full report
Company Name: WCT BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 3.15 |
Maintain Buy with a raised target price. 4Q 2011 results, due on 23 Feb, should at least meet our expectation for a full-year (2011) net profit of RM154m (+9% YoY). We also retain our 2012 forecast for a 9% growth in net profit, supported by strong property sales in 2011. With up to RM5b in its tender book, 2012 could turn out to be a more positive year for WCT in terms of job wins. We lift our SOP-based TP after pegging to stock to a higher 15x PER (+1SD above mean; previously 13x) on expectations of more news flow turning positive.
Maybank Research 17 Feb 2012
Click here for full report
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