PETALING JAYA: The worst may be over for seaport operators as economies, businesses and borders reopen, translating to a recovery in global trade, and hence improvement in seaports’ throughput.
AmResearch said this in a report to clients, and upgraded port company Westports Holdings Bhd
from a “hold” to a “buy” as a result.
“We raise our financial year 2020 (FY20)–FY22 net profit forecasts by 10%, 7%, and 2% respectively, and upgrade our fair value by 17% to RM4.45 (from RM3.81 previously) as we now value Westports at 23 times its revised FY21 earnings per share, “ the research house said.
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