January 21, 2011

PCHEM - Petronas Chems cut to 'neutral' at Macquarie

Stock Name: PCHEM
Company Name: PETRONAS CHEMICALS GROUP BHD
Research House: MACQUARIE GROUP

Petronas Chemicals Group Bhd was lowered to “neutral” from “outperform” at Macquarie Group Ltd, which said further gains may be “limited” given the prospects of a “near-term peak” in oil prices.

The brokerage raised the share-price estimate to RM6.9 from RM5.9, according to the report by Trevor Buchinski. -- Bloomberg

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