KUALA LUMPUR: AHMAD ZAKI RESOURCES BHD []'s (AZRB) shares advanced on Friday, Oct 15 after OSK Research said it expects the company's earnings to accelerate following a record RM876 million worth of jobs secured last year.
At 11.20am, AZRB was up seven sen to RM1.06 with 3.79 million shares done.
The research house said on Friday, Oct 15 that AZRB remains a key beneficiary of government jobs.
"We see a slew of potential jobs from the government, private sector and overseas in the coming months. There is also potential for recurring income assets via the UIA Hospital and EKVE," it said.
OSK Research's FY11-12 earnings are raised by 5%-7%, which pushes up its TP to RM1.45 (45% upside). Given the lagging share price performance YTD, it expects AZRB to catch up.
At 11.20am, AZRB was up seven sen to RM1.06 with 3.79 million shares done.
The research house said on Friday, Oct 15 that AZRB remains a key beneficiary of government jobs.
"We see a slew of potential jobs from the government, private sector and overseas in the coming months. There is also potential for recurring income assets via the UIA Hospital and EKVE," it said.
OSK Research's FY11-12 earnings are raised by 5%-7%, which pushes up its TP to RM1.45 (45% upside). Given the lagging share price performance YTD, it expects AZRB to catch up.
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