Stock Name: WCT
Company Name: WCT BHD
Good start for the year. A RM300.5m job win has lifted WCT's order book by 11% to RM2.97b, we estimate. This provides some comfort on near-term earnings visibility after very small job wins in the whole of 2011. We maintain our earnings forecasts having imputed job win assumptions for 2012. No change to our sum-of-parts target price pegged to 13x 2012 earnings plus 20sen value increment from KLIA2 retail concession. The stock remains a Buy.
Maybank Research 9 Feb 2012
Click here for full report
Company Name: WCT BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 2.75 |
Good start for the year. A RM300.5m job win has lifted WCT's order book by 11% to RM2.97b, we estimate. This provides some comfort on near-term earnings visibility after very small job wins in the whole of 2011. We maintain our earnings forecasts having imputed job win assumptions for 2012. No change to our sum-of-parts target price pegged to 13x 2012 earnings plus 20sen value increment from KLIA2 retail concession. The stock remains a Buy.
Maybank Research 9 Feb 2012
Click here for full report
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