SINGAPORE (March 9): Companies had aggregate EPS growth of 5% in 2017, the first year of growth since 2012, Citi analysts led by Patrick Yau write in note Thursday.
* Earnings estimates after 4Q grew by 11% vs -10% in 3Q, -43% in 2Q
** Beats balanced misses, while impairments weighed
* Raises KLCI target to 1,960 from 1,840
* With Permodalan Nasional related restructuring done, investors may begin evaluating Khazanah related firms for similar restructuring gains
* Elections may not aid construction stocks as correlation between polls and performance of the contractors is lower
* Gamuda replaces IJM in top picks
* Other picks include DRB-Hicom, Genting Malaysia, Genting Plantations, Malaysia Airports, Public Bank, Tenaga Nasional