KUALA LUMPUR: IJM Corp Bhd can deliver sustainable earnings, backed by the recently secured contract to undertake works for the underground package of the light rail transit 3 (LRT3). The firm maintained its “buy” call with an unchanged target price of RM3.27, citing that its fair value for IJM implied 24.1 times of FY19 price-earnings ratio. Public Investment Bank Bhd said year-to-date group’s job replenishment rate is better than expected with the new job in the bag. Meanwhile, MIDF Research said the new contract’s impact was positive and fell within its job replenishment assumptions. The firm, however, kept its earnings forecast, with a target price of RM4.

Source: New Strait Times March 14, 2018 05:03 UTC