AmInvestment Research said that during a recent analyst briefing, Econpile guided for RM100mil to RM200mil new contracts to come from piling jobs for property projects
KUALA LUMPUR: AmInvestment Research is maintaining its “underweight” call and forecasts for Econpile but is raising its fair value to 34 sen, based on eight times fully diluted 2020 earnings per share of 4.25 sen.
In its latest research note, it said this was in line with its benchmark forward target price to earnings of eight times for small-cap construction stocks (from 25 sen previously based on an asset-based valuation method).
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