KUALA LUMPUR: Hwang DBS Vickers Research in maintaining its Buy call on Dayang Enterprise Bhd as it expects maintenance and hook-up & commissioning (HUC) jobs to remain the earnings drivers going forward.
'We reiterate our Buy call and RM3.40 target price based on sector's 12.5x CY11F PE,' it said on Thursday, Dec 9.
Hwang DBS Vickers Research said its target price and earnings will be adjusted accordingly, closer to the completion of the disposal of its 40% stake in Borcos for RM135 million cash.
The proceeds would be used for working capital and capex.
'We believe Dayang is positioning itself to take on a possible maintenance contract that may be awarded in 1Q11. The loss in HUC was a let down but will not have significant impact,' it said.
'We reiterate our Buy call and RM3.40 target price based on sector's 12.5x CY11F PE,' it said on Thursday, Dec 9.
Hwang DBS Vickers Research said its target price and earnings will be adjusted accordingly, closer to the completion of the disposal of its 40% stake in Borcos for RM135 million cash.
The proceeds would be used for working capital and capex.
'We believe Dayang is positioning itself to take on a possible maintenance contract that may be awarded in 1Q11. The loss in HUC was a let down but will not have significant impact,' it said.
No comments:
Post a Comment