SINGAPORE (Apr 10): CIMB is maintaining its "add" on Yongnam with 57 cents target price on expected contract wins from projects such as the North-South Corridor (NSC) tunnelling, KL-Singapore High-Speed Rail (HSR) and Changi Airport Terminal 5 (T5).
Yongnam is also optimistic that on securing the contract for Melbourne Metro, where work could start by end 1H18.
In a Monday report, analyst Colin Tan says the lack of local capability for strut works would give Yongnam a better chance of taking on similar work in Australia, thus building its overseas track record.
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