KUALA LUMPUR (Nov 7): MIDF Research has maintained its Neutral rating on Westports Holdings Bhd at RM2.90 with a higher target price of RM3.11 (from RM2.95) and said the port operator’s results were above expectations.
In a note Friday, the reserach house said the improved result was due to higher throughput and lower effective tax rate.
“3Q14 container throughput grew robustly by 11.3% y-o-y to 2.16 million TEUs.
“CT8 expansion plan to cater for future demand.
“Maintain Neutral with revised target price of RM3.11 after rolling forward valuation to FY15,” it said.