KUALA LUMPUR (Aug 4): MIDF Research has maintained its “buy” rating on Favelle Favco Bhd with a target price of RM3.30 and said the stock was still an attractive dividend-play stock with potential dividend yields in excess of 4%.
In a note today, the research house said Favelle Favco announced that its purchase orders for the period June 1 to August 3 amounted to RM52.8 million.
“The orders consist of a mixture of offshore cranes and tower cranes.
“Favco is still an attractive dividend-play stock with potential dividend yields in excess of 4%.
“We are reiterating our 'buy' recommendation on Favelle Favco with an unchanged target price of RM3.30 per share,” it said.