Stock Name: KENCANA
Company Name: KENCANA PETROLEUM BHD
Research House: OSK
KUALA LUMPUR: OSK Research said KENCANA PETROLEUM BHD []'s good 1QFY11 results were within estimates, boosted by a two-month contribution from MKR-1.
It said on Wednesday, Dec 15 the results were also boosted by the recognition of a portion of the fabrication works secured since April 2010, better yard utilization and improved cost management and production efficiency.
'We believe the robust quarter is just the beginning with more catalysts coming its way. Maintain Buy on Kencana with a target price of RM2.93. This stock remains our only pick in the O&G sector for now,' it said.
Company Name: KENCANA PETROLEUM BHD
Research House: OSK
KUALA LUMPUR: OSK Research said KENCANA PETROLEUM BHD []'s good 1QFY11 results were within estimates, boosted by a two-month contribution from MKR-1.
It said on Wednesday, Dec 15 the results were also boosted by the recognition of a portion of the fabrication works secured since April 2010, better yard utilization and improved cost management and production efficiency.
'We believe the robust quarter is just the beginning with more catalysts coming its way. Maintain Buy on Kencana with a target price of RM2.93. This stock remains our only pick in the O&G sector for now,' it said.
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