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NewsRHB Research upgrades IJM Corp to Buy, raises fair value to RM7.90
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RHB Research upgrades IJM Corp to Buy, raises fair value to RM7.90
by Cals Wed 11 Jun 2014, 01:52
| RHB Research upgrades IJM Corp to Buy, raises fair value to RM7.90 |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Tuesday, 10 June 2014 08:05 KUALA LUMPUR (June 10): RHB Research has upgraded IJM Corporation Bhd to a Buy (from Neutral) at RM7 with a higher fair value (FV) of RM7.90 (from RM6.93) and said it was raising its FY16 forecast by 18%. In a note Tuesday, the research house said IJM Corp’s proposed privatisation of IJM Land enhances earnings (via elimination of IJM Land’s minority interest) and FV (via elimination of a holding company discount). “We believe investors will now have to embrace IJM Corp for exposure to its most profitable unit,” it said. |
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