Stock Name: PETGAS
Company Name: PETRONAS GAS BHD
MIDF Research raised its target price on shares of Petronas Gas Bhd to RM18.12 from RM17.12 after the company's operating profit from its core business segments expanded in the last quarter.
Shares of Petronas Gas remained unchanged at RM20.40, while the benchmark index gained 0.25 per cent.
Petronas Gas' net profit rose 8.1 per cent in the first quarter ended March 31, 2013 due to higher operating margins from its core segments, said MIDF in a report on Monday. The brokerage maintained its 'neutral' rating on Petronas shares.
MIDF said an upcoming re-gasification plant would lift the company's annual earnings by up to RM115 million. "Our target price could be adjusted higher to a range of RM18.97 to RM19.34 with the inclusion of contributions from the plant," it said.-- Reuters
Company Name: PETRONAS GAS BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 18.12 |
MIDF Research raised its target price on shares of Petronas Gas Bhd to RM18.12 from RM17.12 after the company's operating profit from its core business segments expanded in the last quarter.
Shares of Petronas Gas remained unchanged at RM20.40, while the benchmark index gained 0.25 per cent.
Petronas Gas' net profit rose 8.1 per cent in the first quarter ended March 31, 2013 due to higher operating margins from its core segments, said MIDF in a report on Monday. The brokerage maintained its 'neutral' rating on Petronas shares.
MIDF said an upcoming re-gasification plant would lift the company's annual earnings by up to RM115 million. "Our target price could be adjusted higher to a range of RM18.97 to RM19.34 with the inclusion of contributions from the plant," it said.-- Reuters
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