HLIB expects stronger 2HFY23 for Gamuda driven by Australian projects
by Surin Murugiah
Hong Leong Investment Bank (HLIB) Research has maintained its “Buy” rating on Gamuda Bhd at RM4.14 with an unchanged target price (TP) of RM4.88 and said Gamuda reported 1HFY23 core PATAMI of RM385.0 million, slightly above house and consensus expectations at 52%/55% respectively.
“Award decision in Australia could come in 1QFY24 along with DTI’s maiden profit contribution (circa RM80-90 million).
“MRT3 award decision could come in 2HCY23 where targets are for civil and systems packages.
Source: theedgemarkets.com
https://www.theedgemarkets.com/node/660532