KUALA LUMPUR (May 26): CIMB IB Research has maintained its “Add” rating on IJM Corporation Bhd at RM3.50 with a higher target price of RM3.87 (from RM3.80) and said IJM Corp’s FY3/17 core net profit was in line with house full-year forecast but above consensus.

In a note May 25, the research house said the drag in port earnings was more than offset by strong results for all other units.

It said construction order book visibility remains good supported by rail contracts.

“2017’s strategy is underpinned by domestic infra and potential asset monetisation.

“Job wins as key catalysts. Maintain Add with a higher target price (10% RNAV discount),” it said.