Stock Name: HSL
Company Name: HOCK SENG LEE BHD
Research House: OSK
KUALA LUMPUR: OSK Research is maintaining its Buy call on HOCK SENG LEE BHD [] (HSL) and raised the target price to RM2.32.
HSL won a rural road job worth RM67 million, which brings its YTD wins to OSK Research's FY10 target of RM500 million.
'We see HSL as a key beneficiary of more infra jobs in Sarawak, fuelled by the upcoming state election,' said the research house on Thursday, Nov 11.
The potential jobs include road packages, education institutions, Mukah Airport and Phase 2 of the wastewater system.
OSK Research said it valued HSL at 14.5 times on FY11 earnings given its impeccable fundamentals. Maintain BUY, TP raised to RM2.32.
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