CGS-CIMB Research downgrades WCT, cuts target price to 97 sen
KUALA LUMPUR (Aug 29): CGS-CIMB Research has downgraded WCT Holdings Bhd to “Hold” at RM1 with a lower target price of 97 sen (from RM1.15) and said WCT’s post-2Q19 briefing laid out two setbacks: 1) delay of the REIT deal to mid-2020, and 2) slimmer chances of securing infra contracts in 2H19F.
In a note Aug 28, the research house said infrastructure tenders in East Malaysia and the ECRL look less encouraging, leaving the RM1 billion Pavilion Damansara Heights Phase 2 (pending LOA) as the sole potential win in end-2019.
“Share price catalysts look limited; downgrade to Hold with 97 sen target price,” it said.
The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.
Related Stocks
Comments