Thursday 28 Mar 2024
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KUALA LUMPUR (March 14): AmInvestment Bank raises IJM’s fair value to RM3.54/share, from RM3.46, as LRT3 project win boosts new contracts to exceed the bank’s expectation for this year, analyst Joshua Ng writes in report.

* Ambank revises up assumption for job wins to RM4b in FY2018.

** Keeps FY2019-2020 forecasts unchanged at RM3b as it’s more consistent with IJM’s “normalized” job wins

* Ambank raises FY2019-2020 net income forecasts by 3% each to RM624.1m and RM697.9m , respectively

* IJM shares extend 3-day gain to rise 1.5%, after reaching RM2.88 earlier, the highest since Feb. 27

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