IOI Corp
KENANGA Research has upgraded its recommendation for IOI Corp Bhd
to a “buy” from “hold” previously given the stock’s 25% upside potential. “Not only do we like IOI Corp for its top-notch operational efficiency but also for re-rating catalysts in potential mergers and acquisitions,” it said. The outfit has maintained its target price of RM8.45 based on an unchanged price-earnings ratio of 20 times for the financial year ending June 30, 2009.
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