Similarly, the plantation and construction sectors failed to perform up to expectations. Still, the disappointing performances by both industries were attributed to specific developments such as delayed billings, not operational hiccups. Our expected year-end 2017 index target is retained at 1,750 points, on a bottom-up approach, which also corresponds with a 16x multiple to 2018 earnings," PublicInvest said. PublicInvest reiterated its 'overweight' recommendation on the plantation, power, O&G and construction sectors, while suggesting selective exposure onto the banking segment. With solid economic fundamental, we expect firmer commodity prices and record high infrastructure jobs to solidify corporate earnings in 2017," it said.

Source: The Edge Markets March 02, 2017 04:45 UTC