Gadang gains 2.02% on Kwasa Land development rights
KUALA LUMPUR (Oct 18): Shares of Gadang Holdings Bhd rose 2.02% in the morning trades today after RHB Reseacrch Institute Sdn Bhd maintained its “buy” rating on the stock with a higher target price of RM3.50 (from RM3.10) and said Gadang’s medium-term earnings visibility, backed by its solid outstanding construction orderbook and unbilled property sales.
In a note today, the research said it also deemed the latest Kwasa Land rights award as value-accretive.
“We raise our target price to RM3.50 (from RM3.10, 18% upside) post our earnings revisions, GDV update and a re-rating of its construction segment target P/E to 10x (from 9x).
“We reiterate Buy given its solid earnings visibility and undemanding valuation,” it said. — theedgemarkets.com
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
Telegram
Latest publications
View AllFollow Us
Follow our channels to receive property news updates 24/7 round the clock.
Malaysia's Most
Loved Property App
The only property app you need. More than 200,000 sale/rent listings and daily property news.
