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Alliance IB Research upgrades TRC Synergy to trading buy, raises target price

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Alliance IB Research upgrades TRC Synergy to trading buy, raises target price Empty Alliance IB Research upgrades TRC Synergy to trading buy, raises target price

Post by Cals Fri 29 Nov 2013, 17:56

Alliance IB Research upgrades TRC Synergy to trading buy, raises target price
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 29 November 2013 09:31

KUALA LUMPUR (Nov 29): Alliance IB Research has upgraded TRC Synergy Bhd to a Trading Buy at 53.5 sen with a higher target price of 71 sen (from 58 sen) and said TRC reported 9MFY13 earnings of RM18 million (+201% y-o-y) which was above expectations.

In a note Friday, the research house said TRC’s revenue momentum was showing encouraging signs as execution of its sizable orderbook gains traction.

“Sales bookings for its upcoming apartment launch in Johor (GDV: RM100m) has been strong.

“We upgrade FY13 earnings by 10% and raise our target price to 71 sen. Upgrade to Trading Buy as the results indicate that TRC is ripe for an earnings rebound play,” it said.
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