Thursday 28 Mar 2024
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KUALA LUMPUR (June 26): RHB Research has maintained its Buy rating on Pintaras Jaya Bhd at RM4.38 with a higher fair value (FV) of RM4.88 (from RM4.61) and said it was trimming its FY15 EPS forecast by 4% (dilution from ESOS shares) for Pintaras but raised its FV by 6% to RM4.88 (from RM4.61) after increasing its target P/E to 13x (from 12x) to factor in the improving investability of the stock.

In a note Thursday, the research house said Pintaras Jaya is a good proxy to the buoyant piling segment backed by the Klang Valley MRT project, a proliferation of high-rise developments and capacity shortage – which should boost piling rates.


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