Bursa Malaysia Stock Watch
Petronas Chemicals: Buy
kltrader
Publish date: Wed, 23 Nov 2011, 12:27 PM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
3Q11: Awesome Shariah-compliant
Above consensus. RM2,818m (+40.3% YoY) 9M11 PATAMI was 74% of our full year forecast (within expectation) and 78% of consensus (ahead). These are impressive results driven by high utilization rates, strong product margins and relatively stable input cost. PCHEM will continue to leverage on the current high chemical prices and should obtain strong results in 4Q11. Maintain Buy, with a TP of RM8.15/share based on 13.5x 2012 PER, in line with peers' historical mean PER.
Maybank research (23 November 2011)
Click here for full report ''
Above consensus. RM2,818m (+40.3% YoY) 9M11 PATAMI was 74% of our full year forecast (within expectation) and 78% of consensus (ahead). These are impressive results driven by high utilization rates, strong product margins and relatively stable input cost. PCHEM will continue to leverage on the current high chemical prices and should obtain strong results in 4Q11. Maintain Buy, with a TP of RM8.15/share based on 13.5x 2012 PER, in line with peers' historical mean PER.
Maybank research (23 November 2011)
Click here for full report ''
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