So high Target Price.
Sunway to hit sales of RM1.8 billion for FY13, says RHB Research
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 18 December 2013 08:53
KUALA LUMPUR (Dec 18): RHB Research has maintained its Buy rating on Sunway Bhd at RM2.64 with a higher fair value of RM3.33 (from RM3.30) and said Sunway will likely hit RM1.8 billion in sales for FY13.
In a note Wednesday, the research house said it raised is fair value for Sunway due to the company’s new land acquisition in Penang.
It said the land would be developed into a mix of commercial shops and high-rises worth a GDV of RM1.5 billion.
“Meanwhile, Sunway will likely hit RM1.8 billion in sales for FY13.
“Its sales target for next year will be at the same level, and we think this is achievable given its pipeline of projects. Maintain Buy,” it said.