Stock Name: KIMLUN
Company Name: KIMLUN CORPORATION BERHAD
Kenanga Research raised its target price on Kimlun Corp Bhd to RM2.07 per share after the builder won a RM148.5 million construction project to build apartments last Friday.
"We tweaked our fiscal year ending Dec 31, 2012 (FY2012) and FY2013 earning forecast higher by seven and 23 percent, respectively, we have factored in additional contract replenishment in FY2012 and maintain our 500 rth of new contract assumption in FY2013," the broker said in a research note on Monday.
Maintaining "outperform" on the counter, Kenanga said it was satisfied with Kimlun's contract flow in FY2012 thus far and it believed Kimlun could be able to secure more contracts in the period of six to 12 months.
By 10.00am, Kimlun's shares rose 0.64 percent to RM1.57 per share, outperforming the Malaysian benchmark stock index that dropped 0.16 percent. -- Reuters
Company Name: KIMLUN CORPORATION BERHAD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.07 |
Kenanga Research raised its target price on Kimlun Corp Bhd to RM2.07 per share after the builder won a RM148.5 million construction project to build apartments last Friday.
"We tweaked our fiscal year ending Dec 31, 2012 (FY2012) and FY2013 earning forecast higher by seven and 23 percent, respectively, we have factored in additional contract replenishment in FY2012 and maintain our 500 rth of new contract assumption in FY2013," the broker said in a research note on Monday.
Maintaining "outperform" on the counter, Kenanga said it was satisfied with Kimlun's contract flow in FY2012 thus far and it believed Kimlun could be able to secure more contracts in the period of six to 12 months.
By 10.00am, Kimlun's shares rose 0.64 percent to RM1.57 per share, outperforming the Malaysian benchmark stock index that dropped 0.16 percent. -- Reuters
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