Bursa Malaysia Stock Watch

Hock Seng Lee: Maintain Buy - First Valentine ' of the year

kltrader
Publish date: Tue, 14 Feb 2012, 09:34 AM
kltrader
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Maintain Buy. Newsflow is improving and HSL's first job win for 2012 - a RM82.2m road construction sub-contract - has lifted its outstanding order book to RM1.08b (+8%). The stock still offers value at 9.7x 2012 earnings despite the share price having outperformed, up 30% year-to-date. We believe there is still upside potential for the stock, on the back of a pick-up in infrastructure construction activities in Sarawak this year. Maintain Buy with an unchanged RM2.10 target price.


Maybank Research 14 Feb 2012

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