KUALA LUMPUR (Feb 6): Hong Leong IB Research has a “Buy’ rating on Mitrajaya Holdings Bhd with a target price of RM1.95 and said it likes the stock due to its undemanding 7.1-7.7x FY17-18 P/E (consensus 12-13x), supported by a decent 2016-2018 EPS CAGR of 10% and healthy orderbook over RM1.7 billion. In a note today, the research house said the stock is ripe for a downtrend resistance breakout soon near RM1.28 and could march towards RM1.31-1.50 in the medium to long term. “Key supports are near RM1.20-1.23. Cut loss at RM1.17,” it said.

Source: The Edge Markets February 06, 2017 00:45 UTC