Gadang Holdings
(GADG MK, BUY, TP: 1.40)
On The Right Track
Results Review
Gadang Holdings (Gadang) remains a BUY after it recorded a sharp earnings recovery in 2QFY17 (May). This is further supported by its strong near-term earnings visibility, as well as its potential to win more projects in the near future. The stock is currently trading at less than 7x forward P/E vs its peers’ low teens P/E. Hence, this is another strong reason to accumulate the stock. Our SOP-based TP is unchanged, at MYR1.40 (35% upside).
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