Bursa Malaysia Stock Watch
KENCANA - OSK Research: Kencana remains top pick for O&G sector
kltrader
Publish date: Thu, 09 Dec 2010, 12:37 PM
kltrader
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Stock Name: KENCANA
Company Name: KENCANA PETROLEUM BHD
Research House: OSK
KUALA LUMPUR: OSK Research said KENCANA PETROLEUM BHD [], which is expected to announce its 1QFY11 results next Monday, Dec 13 will unveil numbers that are better on-quarter.
The research house said on Thursday, Dec 9 the better on-quarter performance would be underpinned by contributions from the MKR-1, recognition of a portion of fabrication works secured since April 2010, better yard utilisation on-quarter, as well as improved cost management and production efficiency.
'We believe the company's recently proposed fund raising exercise will also provide the stock with growth upside in the coming months. Kencana remains our top pick for the O&G sector. Maintain Buy with a higher target price of RM2.93 (previously RM2.57),' it said.
Company Name: KENCANA PETROLEUM BHD
Research House: OSK
KUALA LUMPUR: OSK Research said KENCANA PETROLEUM BHD [], which is expected to announce its 1QFY11 results next Monday, Dec 13 will unveil numbers that are better on-quarter.
The research house said on Thursday, Dec 9 the better on-quarter performance would be underpinned by contributions from the MKR-1, recognition of a portion of fabrication works secured since April 2010, better yard utilisation on-quarter, as well as improved cost management and production efficiency.
'We believe the company's recently proposed fund raising exercise will also provide the stock with growth upside in the coming months. Kencana remains our top pick for the O&G sector. Maintain Buy with a higher target price of RM2.93 (previously RM2.57),' it said.
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