Stock Name: DAYANG
Company Name: DAYANG ENTERPRISE HOLDINGS BHD
MIDF Research initiated coverage on Dayang Enterprise Holdings Bhd with a 'buy' recommendation and a target price of RM3.95 per share, citing good earnings visibility and healthy financials among reasons.
The research house also sees the oil and gas maintenance and support services firm as a key beneficiary to the RM8-10 billion (US$2.64-3.30 billion) Pan Malaysia hookup and commissioning works.
"In our earnings forecasts, we anticipate Dayang to win RM1 billion (US$329.9 million) from the Pan Malaysia hookup and commissioning works in 2013, with earnings being booked in the latter part of the year," MIDF said in a note on Thursday.
Shares of Dayang has surged 44.12 percent year-to-date. As of 0957am (0157 GMT), the counter remained unchanged at RM3.43 , while the benchmark stock index declined 0.37 percent.
Company Name: DAYANG ENTERPRISE HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 3.95 |
MIDF Research initiated coverage on Dayang Enterprise Holdings Bhd with a 'buy' recommendation and a target price of RM3.95 per share, citing good earnings visibility and healthy financials among reasons.
The research house also sees the oil and gas maintenance and support services firm as a key beneficiary to the RM8-10 billion (US$2.64-3.30 billion) Pan Malaysia hookup and commissioning works.
"In our earnings forecasts, we anticipate Dayang to win RM1 billion (US$329.9 million) from the Pan Malaysia hookup and commissioning works in 2013, with earnings being booked in the latter part of the year," MIDF said in a note on Thursday.
Shares of Dayang has surged 44.12 percent year-to-date. As of 0957am (0157 GMT), the counter remained unchanged at RM3.43 , while the benchmark stock index declined 0.37 percent.
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