Thursday 28 Mar 2024
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KUALA LUMPUR (March 13): MIDF Research has upgraded WCT Holdings Bhd to “Buy” (from Neutral) at RM1.60 with an unchanged target price of RM1.84 and said WCT’s share price had declined 8% since February 18 to RM1.60 yesterday.

In a note today, the research house said this was likely due to WCT’s lower-than-expected FY14 results.

“Stronger jobs in the pipeline is expected to help the Group to exceed our new jobs assumption of RM1.0 billion.

“Overall, we maintain our earnings forecast at this juncture.

“Nonetheless, we upgrade our recommendation to Buy with an unchanged target price of RM1.84 due to the share price weakness,” it said.

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