First Metro Securities upgraded Megawide Construction Corporation's target price to P7.50 per share, indicating a potential 57% upside from its recent trading price.
The company's growth is largely attributed to the 4PH housing program, which aims to address the housing backlog in the Philippines, supported by a significant investment from Pag-IBIG.
Despite potential risks associated with project delays and dependency on the 4PH program, Megawide's strong management and advanced technology position it well for future growth.
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From the latest company re-rating adjustment upgrades for Megawide Construction Corporation (trading symbol: MWIDE), the most aggressive was from First Metro Securities Brokerage Corporation (FirstMetroSec). It assigned a bold year-end “Take-Profit” (TP) target of P7.50 per share equivalent to a 57% upside from its trading close of P4.50 apiece on August 28 – a day before the issuance of the report.
