Stock Name: GAMUDA
Company Name: GAMUDA BHD
Affin Research upgraded its call on builder Gamuda Bhd to "buy" from "add" and maintained its target price at RM4.21 per share, citing more tunnelling jobs to come for the company.
"We expect the group to secure the respective project delivery partner and tunnelling contracts for the country's subsequent mass railway projects, which would extend construction and engineering profits all the way to 2020," the broker said in a research note on Thursday.
Gamuda, in a consortium with Malaysian builder MMC Corp Bhd , on March 20 won the tunneling package for the country's mass railway project with a bid of RM8.2 billion (US$2.69 billion).
By 0114 GMT, Gamuda's shares dropped 0.28 percent, underperforming Malaysia's benchmark stock index, which declined 0.11 percent. -- Reuters
Company Name: GAMUDA BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 4.21 |
Affin Research upgraded its call on builder Gamuda Bhd to "buy" from "add" and maintained its target price at RM4.21 per share, citing more tunnelling jobs to come for the company.
"We expect the group to secure the respective project delivery partner and tunnelling contracts for the country's subsequent mass railway projects, which would extend construction and engineering profits all the way to 2020," the broker said in a research note on Thursday.
Gamuda, in a consortium with Malaysian builder MMC Corp Bhd , on March 20 won the tunneling package for the country's mass railway project with a bid of RM8.2 billion (US$2.69 billion).
By 0114 GMT, Gamuda's shares dropped 0.28 percent, underperforming Malaysia's benchmark stock index, which declined 0.11 percent. -- Reuters
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