Stock Name: PETDAG
Company Name: PETRONAS DAGANGAN BHD
Company Name: PETRONAS DAGANGAN BHD
| Research House: CIMB | Price Call: BUY | Target Price: 21.80 |
Target RM21.80
Our communication with management and recent developments suggest that it is all systems go for PetDag in its drive to become an all-around leader in four years' time. All units ' retail, lubricant, LPG and commercial ' are revved up and on an accelerated growth path. Our target price rises as we now value PetDag at 18.2x CY13 P/E, a 40% premium over our target market P/E which was recently raised from 12.6x to 13x. The stock remains an Outperform and our big-cap oil & gas top pick.
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