Bursa Malaysia Stock Watch

Petronas Chemicals Group: Maintain Buy - Parent astonishes, associate disappoints

kltrader
Publish date: Tue, 28 Feb 2012, 09:48 AM
kltrader
0 20,407
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.
A mixed bag. PCHEM's RM3,553m (+23.3% YoY) 2011 PATAMI was 94% of our and 96% of consensus full-year forecasts. Associate contribution has proved to be an incalculable variable, as it dropped by a whopping 40.2% YoY. Notwithstanding this, the parent company performed well due to high utilisation, strong product margins and stable input costs. Maintain Buy, with an unchanged TP of RM7.50/ share based on 12x 2012 PER, in line with global peers.

Maybank Research 28 Feb 2012

Click here for full report
Related Stocks
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment