Company Name: PANTECH GROUP HOLDINGS BHD
Research House: OSK
It said although the company’s near term earnings outlook appeared unexciting, the research house remained hopeful of a turnaround in Pantech's first quarter numbers for the 2012 financial year.
"This is given the anticipated pick-up in oil and gas activities in the second half of 2011, boosted by the government’s Oil, Gas and Energy National Key Economic Areas which will likely spur activities in the sector," OSK Research said in its Malaysia Equity Investment Research Daily today.
It said Pantech's profit for the whole of 2011 of RM29.4 million was slightly below its estimates.
It maintained a "trading buy" recommendation on Pantech with a target price of 79 sen. - Bernama