Stock Name: MISC
Company Name: MISC BHD
Petroleum prospect is a growing concern. We cut 2011-12 forecasts by 16-21% post weaker-than-expected 2Q results. While the move toexit container business is commercially positive and will stem losses from 2H12, prospects for the petroleum division will be very challengingover the next 24 months. Reiterate Sell with a lower TP of RM5.70, based on higher 20% discount (15% previously) to our SOP valuations.
Maybank research (25 November 2011)
Click here for full report
Company Name: MISC BHD
| Research House: MAYBANK | Price Call: SELL | Target Price: 5.70 |
Petroleum prospect is a growing concern. We cut 2011-12 forecasts by 16-21% post weaker-than-expected 2Q results. While the move toexit container business is commercially positive and will stem losses from 2H12, prospects for the petroleum division will be very challengingover the next 24 months. Reiterate Sell with a lower TP of RM5.70, based on higher 20% discount (15% previously) to our SOP valuations.
Maybank research (25 November 2011)
Click here for full report
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