Bursa Malaysia Stock Watch
Perdana Petroleum (Hold): Weaker 3Q, lowering expectations
kltrader
Publish date: Fri, 25 Nov 2011, 11:35 AM
kltrader
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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
Maybank research (25 November 2011)
Click here for full report
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