Good opportunity to accumulate Sunway stocks, says RHB Research

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KUALA LUMPUR (March 20): RHB Research has maintained its “Buy” rating on Sunway Bhd at RM3.49 with a higher target price of RM4.18 (from RM3.90) and said given the significant re-rating in the big-cap construction stocks in Malaysia lately, it was a good opportunity to accumulate Sunway.

“Maintain Buy, with a higher target price of RM4.18 (20% upside),” it said in a note Friday.

“Unlike other property stocks which currently suffer from weak property sales, Sunway has a different angle as it will list its Sunway Construction soon.

“Investors should look forward to a windfall dividend payout,” it said.