Bursa Malaysia Stock Watch

WCT: Maintain Buy - Big job win!

kltrader
Publish date: Fri, 17 Aug 2012, 10:16 AM
kltrader
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  • Maintain Buy. WCT's latest job win in Oman of MYR800m being its effective share, has lifted its job wins year todate to MYR1.9b, closing in to our MYR2b forecast for the year.
  • This further extends its earnings visibility. We however maintain our forecasts which have imputed an estimated MYR2b job win prospects for the year.
  • We reiterate our Buy call on WCT with an unchanged MYR3.15 SOP-based target price (15x 2012 earnings plus a 20sen increment from the KLIA2 IC concession).
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Source: Maybank Research - 17 August 2012
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