Gamuda a top pick on potential rail jobs

Moving forward, the group anticipates a good performance this year from ongoing construction projects and steady earnings from the water and expressway concessions division.

KUALA LUMPUR: Gamuda Bhd remains a top pick among the big capitalised stocks for the multi-billion ringgit rail tunnelling jobs in the Klang Valley and other road projects, especially the Pan Borneo Highway (Sabah), according to CIMB Research.

The research house said the infrastructure company was in a “sweet spot for bigger rail tenders” and has a target price of RM5.88 pegged to a 10% realised net asset value (RNAV) discount and an implied 19% upside.