UBS raises Gamuda to ‘buy’, cuts IJM

By BUSINESS TIMES

GAMUDA Bhd, Malaysia’s second-biggest builder, was raised to “buy” from “neutral” at UBS AG, which said it now prefers the company to rival IJM Corp.

IJM, the nation’s third-biggest builder, was cut to “neutral” from “buy” by the brokerage, citing the gains in the shares this year.

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