KUALA LUMPUR: OSK Research is maintaining its Buy call on Mudajaya Corp Bhd and raised its target price to RM7.44.
It said on Monday, Jan 24 its recent meeting with the management rekindled its optimism in Mudajaya.
The award of the Janamanjung power plant could serve as the immediate catalyst via the civil works (RM1 billion). In India, the company has submitted thre highway proposals via build-operate-transfer totalling RM3 billion.
'We switch our valuation method to one based on SOP and raise our TP to RM7.44. Maintain BUY,' it said.
It said on Monday, Jan 24 its recent meeting with the management rekindled its optimism in Mudajaya.
The award of the Janamanjung power plant could serve as the immediate catalyst via the civil works (RM1 billion). In India, the company has submitted thre highway proposals via build-operate-transfer totalling RM3 billion.
'We switch our valuation method to one based on SOP and raise our TP to RM7.44. Maintain BUY,' it said.
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