Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Kenanga starts coverage on Harbour-Link

Bursa Community :: Community News

Go down

Kenanga starts coverage on Harbour-Link Empty Kenanga starts coverage on Harbour-Link

Post by Cals Tue 06 May 2014, 17:18

Kenanga starts coverage on Harbour-Link
Business & Markets 2014
Written by Chong Jin Hun of theedgemalaysia.com   
Tuesday, 06 May 2014 10:05

KUALA LUMPUR (May 6): Kenanga Investment Bank Bhd has initiated coverage on logistics and real estate-based Harbour-Link Group Bhd shares with an "outperform" call. The recommendation comes with a target price of RM2.20.

Kenanga analyst Lim Sin Kiat wrote in a note today that Harbour-Link was a compelling logistics entity as the firm was expected to gain from economic activities in the Sarawak Corridor of Renewable Energy.

"Despite recent strong showing of the share price, we believe that it is still not too late to take a position in this stock. We arrived at a target price of RM2.20 based on SOP valuations, implying a forward PER of 11.5x based on FY15 earnings.

"Further rerating catalysts for the stock include: (i) stronger-than-expected property price movement in Bintulu and (ii) bigger-than-expected contract size of EPCC (engineering, procurement, construction and commissioning) contracts. Thus, we are initiating coverage on the stock with an "outperform" call," Lim said.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum