Stock Name: KENCANA
Company Name: KENCANA PETROLEUM BHD
Maintain Buy with a RM3.66 target price. Kencana remains our top conviction Buy in the sector for 2012. Kencana, on a stand-alone basis, is a stock with strong earnings visibility and offers the best exposure to PETRONAS' domestic capex programme in fabrication, drilling and marginal field/enhanced oil recovery (EOR) projects. We believe SapCrest-Kencana Petroleum (Newco) is highly likely to be featured in the KLCI-FBM 30 come the next revision in Jun 2012, a positive in our view, in drawing higher interest and ratings. Our marginally revised target price of RM3.66 offers an 15% upside from current levels.
Maybank Research 14 Feb 2012
Click here for full report
Company Name: KENCANA PETROLEUM BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 3.66 |
Maintain Buy with a RM3.66 target price. Kencana remains our top conviction Buy in the sector for 2012. Kencana, on a stand-alone basis, is a stock with strong earnings visibility and offers the best exposure to PETRONAS' domestic capex programme in fabrication, drilling and marginal field/enhanced oil recovery (EOR) projects. We believe SapCrest-Kencana Petroleum (Newco) is highly likely to be featured in the KLCI-FBM 30 come the next revision in Jun 2012, a positive in our view, in drawing higher interest and ratings. Our marginally revised target price of RM3.66 offers an 15% upside from current levels.
Maybank Research 14 Feb 2012
Click here for full report
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