Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
Cut target price to RM0.70. Results were poor, leading us to cut 2011-13 forecasts and lower our target price to RM0.70 as we lower our P/BV target to 0.7x (-30%), which reflects trough valuations. Perdana remains a Hold. There is no immediate re-rating catalyst, with several issues to address (i.e. disposing its old vessels, low utilization, Petra Energy).
Maybank research (25 November 2011)
Click here for full report
Company Name: PERDANA PETROLEUM BERHAD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 0.70 |
Cut target price to RM0.70. Results were poor, leading us to cut 2011-13 forecasts and lower our target price to RM0.70 as we lower our P/BV target to 0.7x (-30%), which reflects trough valuations. Perdana remains a Hold. There is no immediate re-rating catalyst, with several issues to address (i.e. disposing its old vessels, low utilization, Petra Energy).
Maybank research (25 November 2011)
Click here for full report
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