Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
RHB Research upgraded Malaysia's oil and gas sector to 'overweight' from 'neutral', citing an improvement in jobs visibility as state-owned Petroliam Nasional Bhd pushes for domestic production growth.
"Petronas' focus on domestic production will benefit local service providers," the research house said in a note on Monday.
In anticipation of multiple contract awards, RHB said SapuraKencana Petroleum Bhd and Bumi Armada Bhd were its large-cap top picks while Alam Maritim Resources Bhd and Perdana Petroleum Bhd were its picks among the small caps.
"Production aside, exploration activities are also expected to be robust," RHB said.
RHB had a fair value of RM3.76 per share on SapuraKencana, RM4.35 on Bumi Armada, RM1.25 on Alam Maritim and RM1.40 on Perdana Petroleum.
As of 0156 GMT, SapuraKenanca dropped 0.98 per cent to RM3.03, Bumi Armada declined 1.06 per cent to RM3.72 while Alam Maritim dropped 0.57 per cent to 88 sen. Perdana Petroleum rose 0.79 per cent to RM1.27.
The benchmark stock index dropped 0.57 per cent. -- Reuters
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: RHB | Price Call: BUY | Target Price: 3.76 |
Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 4.35 |
Stock Name: ALAM
Company Name: ALAM MARITIM RESOURCES BHD
| Research House: RHB | Price Call: BUY | Target Price: 1.25 |
Stock Name: PERDANA
Company Name: PERDANA PETROLEUM BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 1.40 |
RHB Research upgraded Malaysia's oil and gas sector to 'overweight' from 'neutral', citing an improvement in jobs visibility as state-owned Petroliam Nasional Bhd pushes for domestic production growth.
"Petronas' focus on domestic production will benefit local service providers," the research house said in a note on Monday.
In anticipation of multiple contract awards, RHB said SapuraKencana Petroleum Bhd and Bumi Armada Bhd were its large-cap top picks while Alam Maritim Resources Bhd and Perdana Petroleum Bhd were its picks among the small caps.
"Production aside, exploration activities are also expected to be robust," RHB said.
RHB had a fair value of RM3.76 per share on SapuraKencana, RM4.35 on Bumi Armada, RM1.25 on Alam Maritim and RM1.40 on Perdana Petroleum.
As of 0156 GMT, SapuraKenanca dropped 0.98 per cent to RM3.03, Bumi Armada declined 1.06 per cent to RM3.72 while Alam Maritim dropped 0.57 per cent to 88 sen. Perdana Petroleum rose 0.79 per cent to RM1.27.
The benchmark stock index dropped 0.57 per cent. -- Reuters
No comments:
Post a Comment