Stock Name: PENERGY
Company Name: PETRA ENERGY BHD
Affin Investment Bank raised its call on oil and gas services firm Petra Energy Bhd to "add" from "reduce", citing stronger earnings growth from its recently acquired service contracts.
The research house lifted its earnings forecast for the financial years of 2013 and 2014 by 23.9 percent and 38.3 percent after pencilling in profit contributions from the Kapal, Banang, Meranti (KBM) risk service contract and the Gumusut-Kakap offshore service contract.
Affin also revised Petra Energy's target price to RM1.95 from RM1.62 previously. -- Reuters
Company Name: PETRA ENERGY BHD
| Research House: AFFIN | Price Call: TRADING BUY | Target Price: 1.95 |
Affin Investment Bank raised its call on oil and gas services firm Petra Energy Bhd to "add" from "reduce", citing stronger earnings growth from its recently acquired service contracts.
The research house lifted its earnings forecast for the financial years of 2013 and 2014 by 23.9 percent and 38.3 percent after pencilling in profit contributions from the Kapal, Banang, Meranti (KBM) risk service contract and the Gumusut-Kakap offshore service contract.
Affin also revised Petra Energy's target price to RM1.95 from RM1.62 previously. -- Reuters
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