Stock Name: IJM
Company Name: IJM CORPORATION BHD
Kenanga Research raised IJM Corp Bhd to "outperform" from "market perform," citing upside potential of 12 percent on its current share price and a brighter earnings visibility from its highway construction project.
"We opine that its earnings visibility is fairly clear at this juncture while the potential West Coast Expressway construction project will provide an additional 3 years earnings visibility to the group," Kenanga said in a note on Tuesday.
The research house also tweaked its target price upwards to 5.74 ringgit per share from 5.56 ringgit previously.
As of 0114 GMT, IJM's shares remained flat at 5.15 ringgit against the Malaysian benchmark stock index which rose 0.06 percent.
0916 (0116 GMT) (Reporting by Anuradha Raghu in Kuala Lumpur; anuradha.raghu@thomsonre
Company Name: IJM CORPORATION BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 5.74 |
Kenanga Research raised IJM Corp Bhd to "outperform" from "market perform," citing upside potential of 12 percent on its current share price and a brighter earnings visibility from its highway construction project.
"We opine that its earnings visibility is fairly clear at this juncture while the potential West Coast Expressway construction project will provide an additional 3 years earnings visibility to the group," Kenanga said in a note on Tuesday.
The research house also tweaked its target price upwards to 5.74 ringgit per share from 5.56 ringgit previously.
As of 0114 GMT, IJM's shares remained flat at 5.15 ringgit against the Malaysian benchmark stock index which rose 0.06 percent.
0916 (0116 GMT) (Reporting by Anuradha Raghu in Kuala Lumpur; anuradha.raghu@thomsonre
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