Bursa Malaysia Stock Watch

Lingkaran Trans Kota (Buy): Second quarter of surprise

kltrader
Publish date: Tue, 29 Nov 2011, 10:27 AM
kltrader
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Outperformed. RM70m 1HFY12 net profit (+26% YoY) made up 60% of our FY12 forecast. We however maintain our forecasts mindful of accounting adjustments in the final quarter relating to projected traffic flow at the LDP affecting amortisation. Litrak remains a Buy with a RM4.20 DCF-based TP. The stock offers defensive qualities with a 5.6% net yield, and a total return of 22% to our target price.

Maybank research (29 November 2011)

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