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HLIB Research recommends Sunway Construction, says valuation undemanding
by Cals Wed 13 Jan 2016, 02:36
HLIB Research recommends Sunway Construction, says valuation undemanding
By theedgemarkets.com / theedgemarkets.com | January 12, 2016 : 8:16 AM MYTKUALA LUMPUR (Jan 12): [size=16]Hong Leong IB Research is recommending investors accumulate Sunway Construction Group Bhd ([You must be registered and logged in to see this image.] Valuation: N/A, Fundamental: N/A) and said this was due to its undemanding at 12.7x FY17 P/E (about 13% lower than its peers), supported by superb FY17 ROE of 23.6% (peers: 9.7%), netcash of RM199 million or 15sen per share and strong orderbook of RM4.3 billion.
In a note today, the research house said a decisive breakout above RM1.39 will spur prices higher towards RM1.45-1.59 targets.
“Cut loss at RM1.25,” it said.
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