OSK Research said in its research report that Gamuda's track record includes the SMART Tunnel, Penchala Tunnel and Kaohsiung MRT.
The Cabinet has approved the RM36 billion KL Mass Rapid Transit (MRT) project.
The first line to be constructed will run 60km from Sg Buloh to Kajang.
Gamuda-MMC was picked as the Project Delivery Partner (PDP).
OSK Research raised its Financial Year 2011 to 2013 (FY11-13) earnings for Gamuda by 1%-7% and highlighted the company as its top sector pick with a RM4.78 target price.
Gamuda recorded a higher pre-tax profit of RM109.7 million in the first quarter ended Oct 31, 2010 from RM94.5 million in the preceding year's comparative quarter.
OSK Research said the results were above expectations.
Gamuda reported strong property sales in the first quarter of RM350 million which is 42.7% of FY10 full year.
This caused its unbilled sales to jump from RM560 million to RM760 million quarter-on-quarter. — Bernama
TOP PICKS BY EDGEPROP
Residence [email protected] [Foc Mot & Free Furniture]
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Kota Damansara | Freehold Condo Walk To UNIVERISTY
Kota Damansara, Selangor
Sunway @ New Dual Key Condo Walk To University
Bandar Sunway, Selangor
Mont Kiara | New Condo Below Market Price
Mont Kiara, Kuala Lumpur
NEW 1 Sty SEMI D Seksyen U14 Booking RM500 Only
Shah Alam, Selangor
Cyberjaya DUAL KEY CONDO FREE FURNISHED+RENOVATED
2.5 Storey Bungalow House Kg Kubu Gajah
Sungai Buloh, Selangor
Cyberjaya | Cash Back Up To 35K New Condo
Passive Income RM1,800 Below Market Price | Cheras
Cheras, Kuala Lumpur
Invest Dual Key Unit GRR 9 years RM280k
Petaling Jaya | New Invest Condo Beside University
Petaling Jaya, Selangor