Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Kenanga Research raised SapuraKencana Petroleum Bhd's fair value to RM2.90 from RM2.80 after the oil and gas services firm secured two new contracts worth a total of RM836 million (273.92 million).
"We are positive on the wins," the research house said in a note on Friday. "Despite being marginal in terms of value, the cumulative contract of RM1 billion (327.65 million) for 2012, illustrates SapuraKencana's market dominance in the local fabrication scene."
Kenanga maintained an 'outperform' on the counter, and said it was positive on the company due to its domestic EPCIC (engineering, procurement, construction, installation and commission) market dominance and reputable international global track record.
The counter rose 1.53 per cent to RM2.65 per share, outperforming the broader index's 0.11 per cent drop. - Reuters
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.90 |
Kenanga Research raised SapuraKencana Petroleum Bhd's fair value to RM2.90 from RM2.80 after the oil and gas services firm secured two new contracts worth a total of RM836 million (273.92 million).
"We are positive on the wins," the research house said in a note on Friday. "Despite being marginal in terms of value, the cumulative contract of RM1 billion (327.65 million) for 2012, illustrates SapuraKencana's market dominance in the local fabrication scene."
Kenanga maintained an 'outperform' on the counter, and said it was positive on the company due to its domestic EPCIC (engineering, procurement, construction, installation and commission) market dominance and reputable international global track record.
The counter rose 1.53 per cent to RM2.65 per share, outperforming the broader index's 0.11 per cent drop. - Reuters
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