Stock Name: Lian Beng
Company Name: LIAN BENG GROUP LTD
OCBC Investment Research in a Dec 2 research report says: "Lian Beng (LBG) announced earlier this week that it has won two new construction contracts, worth a total of almost $98 million.
"The bigger $84.5 million contract relates to construction work for Mandai Estate, for which LBG holds a 55% stake in. The smaller, but not less significant, $13.2 million contract was awarded by HDB. With the latest contracts win, LBG's net order book goes above S$850m.
"We continue to like LBG for its strong order book, track record in both public and private residential projects and undemanding valuations. We find that despite applying a discount rate to capture the likely economic slowdown ahead, LBG still appears attractively priced.
"The updated fair value estimate of 51 cents (previously 55 cents, lower due to change of valuation method) still shows potential upside of about 46%. MAINTAIN BUY."
Company Name: LIAN BENG GROUP LTD
| Research House: OCBC | Price Call: BUY | Target Price: 0.51 |
OCBC Investment Research in a Dec 2 research report says: "Lian Beng (LBG) announced earlier this week that it has won two new construction contracts, worth a total of almost $98 million.
"The bigger $84.5 million contract relates to construction work for Mandai Estate, for which LBG holds a 55% stake in. The smaller, but not less significant, $13.2 million contract was awarded by HDB. With the latest contracts win, LBG's net order book goes above S$850m.
"We continue to like LBG for its strong order book, track record in both public and private residential projects and undemanding valuations. We find that despite applying a discount rate to capture the likely economic slowdown ahead, LBG still appears attractively priced.
"The updated fair value estimate of 51 cents (previously 55 cents, lower due to change of valuation method) still shows potential upside of about 46%. MAINTAIN BUY."
No comments:
Post a Comment