KLSE (MYR): YTL (4677)
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Last Price
3.38
Today's Change
-0.03 (0.88%)
Day's Change
3.37 - 3.47
Trading Volume
17,391,900
2024-08-02
2024-07-25
2024-07-25
2024-07-24
2024-07-24
2024-07-24
2024-07-24
Victor Yong
8,271 posts
Posted by Victor Yong > 2020-07-27 13:08 | Report Abuse
oversold :)
MIDF Research analyst Hafriz Hezry said YTL Corp's earnings in the fourth quarter was likely to be hit by weakness following lockdown measures taken worldwide in reaction to the Covid19 outbreak.
"Given the disappointing performance year-to-date, we slash our FY20 and FY21 earnings by 58 per cent and 7.0 per cent. We also tweak higher our effective tax rate assumption for the period," he said.
The firm maintained a "neutral" call for YTL Corp with a target price of 85 sen.
He said the prospects for the cement division should gradually improve on the back of a consolidated market.
"The construction division could see an improving outlook on the back of a potential High-Speed Rail project revival, progress on the existing Gemas-Johor Bahru double-tracking project and progress on the Tanjung Jati (Indonesia) power plant project, which could see YTL Corp to grab around US$1b (RM4.2 billion) in engineering, procurement and construction works."