Saturday 27 Apr 2024
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KUALA LUMPUR (Dec 13): Shares in Serba Dinamik Holdings Bhd rose 1.94% at mid-morning today following a target price upgrade and positive outlook.

At 10.36am, Serba Dinamik rose 6 sen to RM3.16 with 728,200 shares traded.

Affin Hwang Capital Research maintained its "buy" rating on Serba Dinamik at RM3.10 with a higher target price (TP) of RM4 (from RM3.60) and said it expects a higher order book replenishment in FY18E as it rides on the favourable oil price outlook.

In a note today, it said this, coupled with the current all-time high order book of RM5.3 billion, should drive better earnings growth in FY18E.

"In addition, the success in penetrating new markets will lift earnings.

"All these factors prompt us to raise our EPS by 11% in FY18-19E. We reaffirm our Buy call with a higher TP of RM4.00," it said.

 

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