Bursa Malaysia Stock Watch
AZRB - OSK Research: Buy on AZRB, TP RM1.45
kltrader
Publish date: Fri, 15 Oct 2010, 12:06 PM
kltrader
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Stock Name: AZRB
Company Name: AHMAD ZAKI RESOURCES BHD
Research House: OSK
KUALA LUMPUR: OSK Research expects AZRB's earnings to accelerate following a record RM876m worth of jobs secured last year.
The research house said on Friday, Oct 15 that AZRB remains a key beneficiary of government jobs.
'We see a slew of potential jobs from the Govt, private sector and overseas in the coming months. There is also potential for recurring income assets via the UIA Hospital and EKVE,' it said.
OSK Research's FY11-12 earnings are raised by 5%-7%, which pushes up its TP to RM1.45 (45% upside). Given the lagging share price performance YTD, it expects AZRB to catch up.
Company Name: AHMAD ZAKI RESOURCES BHD
Research House: OSK
KUALA LUMPUR: OSK Research expects AZRB's earnings to accelerate following a record RM876m worth of jobs secured last year.
The research house said on Friday, Oct 15 that AZRB remains a key beneficiary of government jobs.
'We see a slew of potential jobs from the Govt, private sector and overseas in the coming months. There is also potential for recurring income assets via the UIA Hospital and EKVE,' it said.
OSK Research's FY11-12 earnings are raised by 5%-7%, which pushes up its TP to RM1.45 (45% upside). Given the lagging share price performance YTD, it expects AZRB to catch up.
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