=MARKET BUZZ: TA Securities Raises Malaysia Sunway Construction Target To MYR2.65, Keeps Buy
KUALA LUMPUR (Oct 13) -- TA Securities raises Malaysia's Sunway Construction Group's target price to MYR2.65 after company secures MYR139.8 million new orders, keeps Buy call. Ups earnings forecast for FY18 and FY19 by 3.8% and 2.0% respectively, revises FY17 orderbook replenishment assumption to MYR3.7 billion from MYR3.5 billion. Notes, Sunway Construction's outstanding orders totalling MYR3.6 billion or 3.7x FY16 revenue could provide company with earnings visibility until 2020. Sunway Construction shares unchanged at MYR2.31.
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