Affin Research maintains Buy on WCT, RM3.56 target price

Date: 
2011-12-28
Firm: 
AFFIN
Stock: 
Price Target: 
3.56
Price Call: 
BUY
Last Price: 
0.945
Upside/Downside: 
+2.615 (276.72%)
KUALA LUMPUR (Dec 28): Affin Equities Research is maintaining its Buy call on WCT BHD [] at RM2.30 with a price target of RM3.56.

WCT had announced on Tuesday its unit was awarded an investment certificate to undertake a residential and commercial mixed development on a 46,577 sq m (11.5 acre) site in Ho Chi Minh City, Vietnam.

Affin Research said on Wednesday since the land area was only 11.5 acres, it did not believe the project would take 50 years to develop.

'We continue to believe in the long term potential of the property development business in Vietnam but with the eurozone debt crisis still unfolding and global economy expected to slow in 2012, short-term uncertainties remain,' it said.

The research house said that on the upside, there was recent good response to Gamuda's Celadon City (Ho Chi Minh City) and Gamuda City (Hanoi) projects.

'Pending guidance on project launch date and gross development value, we maintain our FY11-13 forecasts, target price (at 15 times CY12 EPS) and BUY call for WCT.

'Recent tender failures and likely inability to secure RM2 billion of new projects this year are key concern,' Affin Research pointed out.

Discussions
1 person likes this. Showing 20 of 20 comments

chong

Buy buy buy mother & son too....will go much higher.

2011-12-29 15:38

chong

Good buying support of WCT at 79%...more to come perhaps.

2011-12-29 17:13

Adam Ryan

will watch for this stock...i heard also abt this stock 2days ago in the edge....

2011-12-29 17:17

chong

Good for you brother Adam Ryan...you got a good pair of eyes that you have put into good use.

2011-12-29 18:59

Adam Ryan

Thanks...u too...sharing is good rite to minimize the risks n maximize possibilities of profit....

2011-12-29 19:46

Adam Ryan

Cheer again n happy new years....what do u think abt market collapse in 2012? alot people talking abt this issue.... how do u think chong?

2011-12-29 19:47

Adam Ryan

Chong put ur eyes on catcha.....watch it....

2011-12-29 20:01

chong

2012 is really going to be a bad indeed for another possible market collapse. Most of the signs are there. So brother Adam, please tread & trade with utmost care as money is hard to earn nowadays. And a Happy New Year to you & your family too. GOD bless you too & take care my friend.

2011-12-29 20:12

Adam Ryan

Thanks alot friend...if market collapse no enjoy anymore in U-Campus....hahaha....will buy when all stock cheap already, sure be rebound back....so i will pay all my fees in sum total....

2011-12-29 20:32

chong

Clever thinking brother Adam Ryan, a creative mind you have indeed. Buy low & sell high...lol

2011-12-29 20:43

Kent Lee

i thot buy high sell highest... !! hahahaa

2011-12-29 20:45

Adam Ryan

Kent: buy high, sell highest? hahahaha....u will lost ur money...buy in panic is best way to make money, grab it before too late....

2011-12-29 20:49

Kent Lee

haha... just kidding bro

2011-12-29 20:53

Adam Ryan

how abt buy highest sell lowest....? hahahaha.... i know somebody who buy knm at 1.75 n still holding....i tell him to cut lost long time ago...but he is so confidence with his target price rm5 for knm....hahahah

2011-12-29 20:57

Kent Lee

i am maybe a baby in this line but NOT that naive hahaha

2011-12-29 20:58

Kent Lee

i did adapt cut loss ... small loss n average profit for me so far...

2011-12-29 21:04

Jake

WCT has been a laggard...but let's hope it perks up soon enough.

2011-12-29 23:11

chong

Yesterday was not bad for WCT up 9 cents & do hope that it moves further up today being the last trading day for 2011.....hope it ends with big bang to welcome 2012.

2011-12-30 03:08

Adam Ryan

many counter have to watch tomorow but not enough money bro...so have to choose the best one...

2011-12-30 03:44

dknycom

I BOUGHT WCT AT RM 2.20, UNTIL NOW ONLY AROUND RM 2.35...
HOW MUCH THIS SHARES CAN RISE?
TARGET PRICE AROUND RM 3.56.

2012-01-31 19:37

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