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AffinHwang maintains Buy on Jaks, lowers target to RM1.70
KUALA LUMPUR (Feb 28): AffinHwang Capital Research has maintained its “Buy” rating on Jaks Resources Bhd with a lower target price of RM1.70 (from RM2) and said the fundamental of the company remains unchanged, despite the disappointing headline PATAMI of RM700,000 for FY16.
In a note today, the research house said the weaker than expected results was mainly due to several one-offs, and Jaks’s inability to recognised any EPC contract revenue in the 4QFY16.
Buy On weakness.
http://www.theedgemarkets.com/my/article/affinhwang-maintains-buy-jaks-lowers-target-rm170
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