Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Dec 12): Advancecon Holdings Bhd (AHB) shares rose 4.65% this morning on a positive analyst outlook for the stock.

At 11.04am, AHB rose 4 sen to 90 sen with 230,300 shares done.

In an investment idea note Dec 11, Rakuten Trade maintained its "buy" rating on AHB with a target price of 94 sen.

The research house said it remains positive on AHB and expects the company to resume its growth trajectory in FY18.

"AHB is expected to recover from a weaker FY17 due to the slower-than-expected progress of the West Coast Expressway and Pan Borneo Highway projects due to delays in land acquisition and handover of site.

"However, revenue is expected to flow in FY18 as we project 33% rise in earnings.

"AHB's margins remain high at around 11% and gearing level has been brought down to 0.43x from 0.77x via its IPO proceeds," it said.

 

      Print
      Text Size
      Share