CAHYA Mata Sarawak Bhd’s (CMS) earnings forecast for the financial year 2021 (FY21) and FY22 has been revised upwards on expectations of higher income from its associates OM Materials (Sarawak) Sdn Bhd and Kenanga Investment Bank Bhd.
RHB Investment Bank Bhd (RHB Research) raised the conglomerate’s earnings forecast for the next two years by 9% and maintained a ‘Buy’ call on CMS with a higher target price (TP) of RM2.90 from RM2.40.
“Earnings prospects for CMS’ associates OM Materials and Kenanga Investment are turning more upbeat on the ferroalloy selling price rebounds and buoyant equity trading turnover year-to-date.
“This prompts us to raise our FY21-FY22 forecast earnings by 9% to between RM217 million and RM233 million, suggesting an upside risk to the current FY21 consensus forecast of RM170 million,” its analyst Lester Siew said in a note yesterday.
The research house said it is prime time to turn focus on the construction sector, adding that its top picks were: Gamuda Bhd (Buy, target price: RM4.20), Sunway Construction Group Bhd (Buy, TP: RM2.14), Gabungan AQRS Bhd (Buy, TP: 85 sen), Cahya Mata Sarawak Bhd (CMSB) (Buy, TP: RM2.80), and Malayan Cement Bhd (Buy, TP: RM3).
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Elenor Yang
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Posted by Elenor Yang > 2021-02-16 16:34 | Report Abuse
nothing, just beware, usually it will drops after achieve it a new high