Stock Name: SKPETRO
Company Name: SAPURAKENCANA PETROLEUM BHD
MIDF Research has maintained its 'buy' call on SapuraKencana Petroleum Bhd for its integrated oil and gas business model and its status as a strong beneficiary of Petronas' strong capital
expenditure spending for the next few years.
"This is already evident from its ability to a secure contracts from the North Malay Basin, Pan Malaysia hook-up and commissioning projects and Brazil's Petrobras jobs," the research house said in a note today.
It said the company also has a consistent strong order book replenishment.
MIDF Research said it was bullish on the company and its 'buy' call on the stock was at a target price of RM4.86 per share.
The new target price, it said, was pegged to an earnings per share of 24.3 sen in the 2014 financial year and a forward price earnings ratio of 20 times.-- Bernama
Company Name: SAPURAKENCANA PETROLEUM BHD
| Research House: MIDF | Price Call: BUY | Target Price: 4.86 |
MIDF Research has maintained its 'buy' call on SapuraKencana Petroleum Bhd for its integrated oil and gas business model and its status as a strong beneficiary of Petronas' strong capital
expenditure spending for the next few years.
"This is already evident from its ability to a secure contracts from the North Malay Basin, Pan Malaysia hook-up and commissioning projects and Brazil's Petrobras jobs," the research house said in a note today.
It said the company also has a consistent strong order book replenishment.
MIDF Research said it was bullish on the company and its 'buy' call on the stock was at a target price of RM4.86 per share.
The new target price, it said, was pegged to an earnings per share of 24.3 sen in the 2014 financial year and a forward price earnings ratio of 20 times.-- Bernama
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