Eco World Development management’s medium-term focus remains improving its balance sheet through executing unbilled sales and enhancing the value of its existing township, Maybank IB Research said.
KUALA LUMPUR: Maybank Investment Bank Research has upgraded Eco World to a Buy with a new target price of 80 sen, which is 26% above its last traded price of 64 sen.
In its research note issued on Friday, it maintained its EPS but lowered its realized net asset value (RNAV) estimate to RM1.99 (- 13 sen) as it raised discount rates for ECW’s projects.
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