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Hot Stock Vivocom active, up 3.23% on expected strong 1Q16 results
by Cals Tue 12 Apr 2016, 01:30
- Hot Stock
[size=28]Vivocom active, up 3.23% on expected strong 1Q16 results
By Surin Murugiah / theedgemarkets.com | April 11, 2016 : 10:59 AM MYTKUALA LUMPUR (April 11): Shares of Vivocom Intl Holdings Bhd rose 3.23% in active trade at mid-morning today after CIMB IB Research maintained its "add" rating on Vivocom at 30 sen with an unchanged target price of 67 sen and said Vivocom is likely to report strong 1Q16 results in mid-June 2016 that will beat house estimates.
At 10.31am, Vivocom rose one sen to 32 sen with 42.1 million shares traded.
In a note last Friday, the research house said that over the next three months, it expects multiple re-rating catalysts to materialise.
It said that in addition to letter of awards for various contracts worth RM1.5 billion, the strong 1Q16 results should calm investors' earlier concerns about Vivocom's execution ability. China Railway Construction Corporation Ltd contract awards are likely to materialise in 2H16, ie Penang major roads and Gemas-JB double-track.
"We retain our EPS forecasts, SOP-based target price and 'add' rating," it said.
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