IOI Properties on track to achieve new heights, HLIB says
Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating for IOI Properties Group Bhd (IOIPG) at RM1.67, with a higher target price (TP) of RM2.48 (from RM2.10).
Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating for IOI Properties Group Bhd (IOIPG) at RM1.67, with a higher target price (TP) of RM2.48 (from RM2.10).
Maybank Investment Bank Research (Maybank IB) has maintained its “buy” rating for Gamuda Bhd at RM4.31, with an unchanged target price (TP) of RM4.80, and said Gamuda’s core net profit (CNP) for the financial year ended July 31, 2023 (FY2023) was 104% of the house forecast (in line), and 110% of the consensus (above).
TA Securities Research has maintained its “buy” rating on Gamuda Bhd at RM4.31 with a higher target price of RM5.19 (from RM5.03) based on sum of parts valuation.
The research house said building materials (Cahya Mata Sarawak Bhd) and construction (Gamuda Bhd, IJM Corp Bhd, Sunway Construction Group Bhd, TRC Synergy Bhd and WCT Bhd) sectors should benefit from the multi-billion development expenditure after long delays caused by the political uncertainties between 2018 and 2022.
... citing its slower-than-expected recovery through the first half of the year.
BMI, a Fitch Solutions company, has maintained that Bank Negara Malaysia (BNM) will keep the overnight policy rate on hold at 3% until end-2023 and begin cutting rates early in the first half of 2024 (1H2024), alongside other major central banks including the US Federal Reserve.
RHB Investment Bank (RHB IB) Research has maintained its "overweight" rating on the construction and engineering sector and said it remains upbeat on the construction sector, premised on the lifting of the political overhang post state elections.
MIDF Research has initiated coverage on Matrix Concepts Holdings Bhd at RM1.52 with a "buy" call and target price (TP) of RM1.81.
The company said quarterly revenue rose to RM397.44 million, versus RM334.66 million a year ago.
It also posted higher unbilled sales of RM3.8 billion as at June 30, versus RM3.6 billion as at Dec 31, 2022.