Bursa Malaysia Stock Watch
RHB Research upgrades KNM to outperform
kltrader
Publish date: Thu, 21 Jan 2010, 11:39 PM
kltrader
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RHB Research upgrades KNM to outperform
Written by RHB Research Institute
Thursday, 21 January 2010 09:19
KUALA LUMPUR: RHB Research Institute has upgraded KNM to outperform from underperform on potential stronger orderbook in FY10-11.
?We have raised our fair value to 91 sen a share (from 65 sen a share previously) which is now based on 13 times FY10 PER (vs 11x FY10 PER previously).
?Given potential upside of 17% to our new fair value, we have upgraded the stock to Outperform (from Underperform previously),? it said on Thursday, Jan 21.
RHB Research said KNM management expects FY10-11 orderbook to rise from RM2.8 billion given stronger demand for process equipment arising from new oil sands investments as well as increase in petrochemical plants and refineries.
Written by RHB Research Institute
Thursday, 21 January 2010 09:19
KUALA LUMPUR: RHB Research Institute has upgraded KNM to outperform from underperform on potential stronger orderbook in FY10-11.
?We have raised our fair value to 91 sen a share (from 65 sen a share previously) which is now based on 13 times FY10 PER (vs 11x FY10 PER previously).
?Given potential upside of 17% to our new fair value, we have upgraded the stock to Outperform (from Underperform previously),? it said on Thursday, Jan 21.
RHB Research said KNM management expects FY10-11 orderbook to rise from RM2.8 billion given stronger demand for process equipment arising from new oil sands investments as well as increase in petrochemical plants and refineries.
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