#3 Gamuda Bhd
KENAGA Research has
maintained its OUTPERFORM rating on the company with a target price of RM 4.17.
The continued positive sentiments are a result of "outstanding order-book standing at RM5.5b, mainly
comprising KVMRT2 (RM3.4b or 62% of outstanding order-book) which would continue to drive construction earnings till early FY22.
Meanwhile, its order-book is poised to be bumped up by RM5b (from PSR land reclamation works) once the JV agreements between Penang State and SRS consortium are finalized."
In addition, " Gamuda is in a dominant position in the construction space in Malaysia which is poised to benefit from any pump-priming initiatives."
>> Read more about the company here.
#4 Dialog Group Berhad
AmInvestment Bank has maintained with a
BUY rating on the stock with a target price of RM 4.80.
The positivity of the analysts comes from "Dialog’s strong execution capability. It is
demonstrated by Phase 3A being completed ahead of schedule from an earlier mid-2021 target and also within budget despite the various degrees of the MCO since March last year. "
"Besides the storage offtake from BP, Dialog is also targeting medium to long-term oil traders, multinational oil companies, refineries and petrochemical plants for the next phases. These support various downstream operations including those of the refinery and petrochemical plants within the Pengerang Integrated Petroleum Complex."
>> Read more about the company here.
#5 Allianz Malaysia
Affin Hwang Capital has
maintained a rating of BUY and with its target price at RM 16.40.
The conviction of the analyst was because of "premium growth expected to stay resilient in 2021.
In 2021, we believe that prospects in the General segment will be driven by a recovery in auto sales and through the Pos Malaysia tie-up while annualized new premium growth in the Life segment (2020: +13.5% yoy) will be led by its strong agency force and banca-partnership, as well as the pick-up in traditional policy sales."
>> Read more about the company here.
#6 Hong Leong Bank
Affin Hwang Capital has
upgraded its rating on the company to BUY with a target price of RM 20.30.
The main driver of the sentiment is mainly because of improved operating metrics.
"HLB reported a robust set of operating results in 1HFY21, with net operating income up 12% yoy while pre-provision profit was up 22.3% yoy. 1HFY21 fund-based income reported a 15.7% yoy growth despite the rate cuts, as HLB benefited from the repricing down of deposit rates, a decrease in fixed deposits (-4.8% yoy) and robust CASA growth of 21.5% yoy (CASA ratio at 30%).
As a result, NIM expanded by 5bps yoy to 2.05% in 1HFY21. Non-interest income grew 3% yoy, driven by Treasury gains, wealth management and credit card fees. Meanwhile, Bank of Chengdu’s contribution (19.4% of 1HFY21 pre-tax profit) was up 8% yoy."
>> Read more about the company here.
#7 Inari Amerton
Macquarie Research has
maintained its OUTPERFORM rating on the company with a target price of RM 3.80.
Main driver of the sentiment "INRI remains a high-quality OSAT in the semiconductor space with sustainable earnings – which fits into MQ Research’s long tech portfolio."
It was also driven by optimistic view of the industry. it is "driven by 1) rebounding smartphone volumes from 2020’s COVID-depressed levels, 2) increased market share of a major smartphone end-customer, 3) rising 5G penetration, 4) modest radio frequency (RF)-content growth, and 5) supply chain inventory build."
>> Read more about the company here.
