Stock Name: PANTECH
Company Name: PANTECH GROUP HOLDINGS BHD
TA Research maintained "buy" on steel fittings firm Pantech Group Holdings Bhd with a target price of 70 sen, citing improving business outlook despite fiscal year ending Feb 29 (FY2012)'s earnings came below consensus expectations.
"The company's carbon steel division has orders until end of this calendar year and is currently ramping up capacity to meet rising demand, especially from the oil and gas sector," the broker said in a research note on Wednesday.
TA said Pantech can capitalise on its unit Nautic Steel Ltd's strength in milling, machining and welding of tube and pipe fittings in special metals with so much investments planned by the oil majors for the domestic oil and gas sector.
By 949 am, Pantech shares rose 5.77 percent, outperforming the Malaysia's benchmark stock index that climbed 0.32 percent. -- Reuters
Company Name: PANTECH GROUP HOLDINGS BHD
| Research House: TA | Price Call: BUY | Target Price: 0.70 |
TA Research maintained "buy" on steel fittings firm Pantech Group Holdings Bhd with a target price of 70 sen, citing improving business outlook despite fiscal year ending Feb 29 (FY2012)'s earnings came below consensus expectations.
"The company's carbon steel division has orders until end of this calendar year and is currently ramping up capacity to meet rising demand, especially from the oil and gas sector," the broker said in a research note on Wednesday.
TA said Pantech can capitalise on its unit Nautic Steel Ltd's strength in milling, machining and welding of tube and pipe fittings in special metals with so much investments planned by the oil majors for the domestic oil and gas sector.
By 949 am, Pantech shares rose 5.77 percent, outperforming the Malaysia's benchmark stock index that climbed 0.32 percent. -- Reuters
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