IJM Corp 9M results above forecast, higher TP of RM2.03

KUALA LUMPUR: IJM Corporation Bhd's nine-month results were above expectations as core net profit grew by 1.2% on-year but the overall group saw mixed performances except the plantations sector, CGS-CIMB Equities Research said.

“Reactivation of mega contracts to bode well for large cap contractors. Add retained with higher TP; contract wins -- East Coast Rail Link (ECRL), Private Finance Initiative (PFI) projects and MRT3) are key catalysts, ” it said on Friday.