Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
Research House: OSK
Company Name: PETRONAS GAS BHD
Research House: OSK
OSK says that Petronas Gas nine month financial year (FY) 2011 annualised results were above its consensus forecast, despite management’s continued conservative guidance.
With propane and butane prices set to make a rebound with higher oil prices, OSK tweaked up its forecastand fair value slightly.
OSK believes Petronas Gas provides a defensive investment option in these volatile times with a yield of 4.9 per cent and further catalyst in the form of a new revenue stream when its LNG regas plant is completed.
OSK sees the company a 'buy' and has increased the target price to RM13.56. -- Reuters
With propane and butane prices set to make a rebound with higher oil prices, OSK tweaked up its forecastand fair value slightly.
OSK believes Petronas Gas provides a defensive investment option in these volatile times with a yield of 4.9 per cent and further catalyst in the form of a new revenue stream when its LNG regas plant is completed.
OSK sees the company a 'buy' and has increased the target price to RM13.56. -- Reuters
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