RHB maintains ‘buy’ on IJM on signs of improvement

RHB Research maintained its “buy” call on the stock but marginally slashed core net earnings for the group by 1-4% for FY20F-22F and revised its target price by 3.6% to RM2.74 after factoring in IJM Plantations’ revised target price

KUALA LUMPUR: There could be improving sentiment on IJM Corp Bhd as the group displays early signs of improvement, according to RHB Research.”

“Opportunities in 2020 appear wide for new public jobs from rationalised projects - ECRL, Johor-Singapore RTS and Bayan Lepas LRT - thereby boosting earnings should these projects proceed within their expected timeframes, ” it said.