Stock Name: UMW
Company Name: UMW HOLDINGS BHD
CIMB Research raised its target price for UMW Holdings Bhd to RM14.45 from RM13.10 after the industrial-to-automotive company's oil and gas unit won a 140 million contract in East Malaysia.
The contract will add a maximum of 3 per cent to UMW's earnings, though a weakening US dollar and yen will have a larger positive effect, CIMB said in a report on Wednesday. The brokerage maintained an 'outperform' call on UMW.
UMW said in December it planned to sell up to RM2 billion in Islamic bonds to cut debt and fund working capital. Shares of UMW fell 0.16 per cent to RM12.16. The stock has gained nearly 25 per cent in the past six months, according to data from Thomson Reuters. -- Reuters
Company Name: UMW HOLDINGS BHD
| Research House: CIMB | Price Call: BUY | Target Price: 14.45 |
CIMB Research raised its target price for UMW Holdings Bhd to RM14.45 from RM13.10 after the industrial-to-automotive company's oil and gas unit won a 140 million contract in East Malaysia.
The contract will add a maximum of 3 per cent to UMW's earnings, though a weakening US dollar and yen will have a larger positive effect, CIMB said in a report on Wednesday. The brokerage maintained an 'outperform' call on UMW.
UMW said in December it planned to sell up to RM2 billion in Islamic bonds to cut debt and fund working capital. Shares of UMW fell 0.16 per cent to RM12.16. The stock has gained nearly 25 per cent in the past six months, according to data from Thomson Reuters. -- Reuters
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