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RHB Research upgrades Coastal Contracts to Buy, raises fair value

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RHB Research upgrades Coastal Contracts to Buy, raises fair value Empty RHB Research upgrades Coastal Contracts to Buy, raises fair value

Post by Cals Thu 28 Nov 2013, 10:28

RHB Research upgrades Coastal Contracts to Buy, raises fair value
Business & Markets 2013
Written by theedgemalaysia.com   
Thursday, 28 November 2013 09:24
KUALA LUMPUR (Nov 28): RHB Research has upgraded Coastal Contract Bhd to a Buy (from Neutral) at RM3.25 with a higher fair value of RM3.77 (from RM3.50) and said the company’s  9MFY13 core net profit beat house expectations but was in line with consensus estimate.
In a note Thursday, the research house said the 9MFY13 profit before tax margin improvement in its shipbuilding & ship repair segment contributed to its superb performance.
“We have yet to incorporate any potential contribution from its first rig due to be delivered by 2HFY14,” it said.
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