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RHB IB upgrades IJM Corp on strong earnings and prospects, raises target price to RM2.21

RHB Investment Bank Research (RHB IB) has upgraded its rating on IJM Corp Bhd (IJM) to “buy” at RM1.18, with a higher target price of RM2.21 (previously RM1.99) based on sum-of-the-parts valuation, following the group’s better-than-expected financial performance in the first half of financial year ended Sept 30, 2023 (1HFY2024).