Friday 29 Mar 2024
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KUALA LUMPUR  (May 26):  Hong Leong IB Research has maintained its “Buy” rating on WCT Holdings Bhd with a target price of RM2.12 and said WCT’s 1QFY16 core earnings of RM32 million (up 117% y-o-y) were within expectations but below consensus.

In a note today, the research house said WCT’s construction division witnessing a healthy recovery in margins.

“Orderbook of RM3.9 billion implies healthy cover ratio of 3.4x.

“Maintain Buy, target price: RM2.12. We expect WCT to witness a reversal of fortunes this year,” it said.

At 9.23am, WCT fell 2.96% or 5 sen to RM1.64 with 174,900 shares done.

 

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