"Outlook looks bright amid a slew of mega public infrastructure project tenders up for bidding this year," says analyst Colin Tan in a Friday report.
SINGAPORE (Mar 2): CIMB is keeping Yongnam Holdings at “add” as the steel structure support specialist pursues $1.2 billion worth of new projects in Singapore and overseas.
The research house is also raising its target price to 57 cents after rolling over its valuation – pegged to 0.8 times book value – to FY19 and raised FY18-19 EPS by 1.5-2% to reflect lower finance costs.
