KUALA LUMPUR: Kenanga Research is maintaining an outperform rating for Kerjaya Prospek Group Bhd with an unchanged target price of RM1.50.
In a research note today, it said Kerjaya Prospek kicked off 2020 by securing contracts valued at RM617 mil to undertake piling and main building works for a mixed property development project in Penang.
“By clinching these contracts at the beginning of the year, Kerjaya is on track to at least achieve our full-year contract wins target of RM1.2 bil (which is similar to 2019 total contract wins value of RM1.2 bil).
“Following these contract wins, its (Kerjaya) outstanding construction order book has jumped to RM3.5 bil, which will underpin earnings visibility for the next three to four years,” Kenanga Research said.
At 9.50am, Kerjaya Prospek rose seven sen to RM1.39 with 1.09 million shares changing hands. – Jan 14, 2020, Bernama