Bursa Malaysia Stock Watch

Perdana Petroleum (Hold): Weaker 3Q, lowering expectations

kltrader
Publish date: Fri, 25 Nov 2011, 11:35 AM
kltrader
0 20,638
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.
Cut target price to RM0.70. Results were poor, leading us to cut 2011-13 forecasts and lower our target price to RM0.70 as we lower our P/BV target to 0.7x (-30%), which reflects trough valuations. Perdana remains a Hold. There is no immediate re-rating catalyst, with several issues to address (i.e. disposing its old vessels, low utilization, Petra Energy).

Maybank research (25 November 2011)

Click here for full report
Related Stocks
Market Buzz
Discussions
1 person likes this. Showing 0 of 0 comments

Post a Comment