Mencast

Mencast: CIMB maintains Buy and lift TP to $0.66 from $0.49 peg at 8x FY12 P/E. House like Mencast for its high projects visibility in the O&M sector, and its strong potential overseas expansion story. Add that grp is a strong candidate to the O&M spending and the stock offers excellent value trading at 5.4x CY12 P/E against its 3-yr core earnings CAGR forecast of 27.8%.