Growth Investors: Industry Analysts Just Upgraded Their Tambun Indah Land Berhad (KLSE:TAMBUN) Revenue Forecasts By 11%

Tambun Indah Land Berhad (KLSE:TAMBUN) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline. The stock price has risen 6.2% to RM1.20 over the past week, suggesting investors are becoming more optimistic. Whether the upgrade is enough to drive the stock price higher is yet to be seen, however.

After this upgrade, Tambun Indah Land Berhad's dual analysts are now forecasting revenues of RM246m in 2024. This would be a meaningful 9.8% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing RM222m of revenue in 2024. It looks like there's been a clear increase in optimism around Tambun Indah Land Berhad, given the nice increase in revenue forecasts.

See our latest analysis for Tambun Indah Land Berhad

The consensus price target rose 31% to RM1.22, with the analysts clearly more optimistic about Tambun Indah Land Berhad's prospects following this update.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 9.8% growth on an annualised basis. That is in line with its 11% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 7.1% per year. So it's pretty clear that Tambun Indah Land Berhad is forecast to grow substantially faster than its industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Tambun Indah Land Berhad this year. The analysts also expect revenues to grow faster than the wider market. There was also a nice increase in the price target, with analysts apparently feeling that the intrinsic value of the business is improving. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Tambun Indah Land Berhad.

Looking for more information? We have analyst estimates for Tambun Indah Land Berhad going out to 2026, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies backed by insiders.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.