Stock Name: SENDAI
Company Name: EVERSENDAI CORPORATION BERHAD
MIDF Research initiated coverage on Eversendai Corp with a "buy" and a target price of RM2.10 per share, seeing the construction firm in a good position to ride on the robust construction outlook especially in the Middle East.
"Eversendai has an impressive track record and we believe Eversendai will be able to achieve or even exceed its RM1.5 billion (US$489.44 million) order book target for this year," the broker said in a research note on Thursday.
Eversendai, which had already clinched RM759 million worth of project year to date, had been achieving double-digit net margin in the last three fiscal years, the highest among Malaysian construction players.
"We expect this trend to continue in the future as Eversendai will only bid high margin jobs, which are mostly from the Middle East," said MIDF. -- Reuters
Company Name: EVERSENDAI CORPORATION BERHAD
| Research House: MIDF | Price Call: BUY | Target Price: 2.10 |
MIDF Research initiated coverage on Eversendai Corp with a "buy" and a target price of RM2.10 per share, seeing the construction firm in a good position to ride on the robust construction outlook especially in the Middle East.
"Eversendai has an impressive track record and we believe Eversendai will be able to achieve or even exceed its RM1.5 billion (US$489.44 million) order book target for this year," the broker said in a research note on Thursday.
Eversendai, which had already clinched RM759 million worth of project year to date, had been achieving double-digit net margin in the last three fiscal years, the highest among Malaysian construction players.
"We expect this trend to continue in the future as Eversendai will only bid high margin jobs, which are mostly from the Middle East," said MIDF. -- Reuters
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