Bursa Malaysia Stock Watch
KNM ' Fair value unchanged at RM0.68
kltrader
Publish date: Tue, 03 Apr 2012, 03:49 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.
KNM ' Fair value unchanged at RM0.68 Underperform
- Despite a lackluster YTD performance from the oil & gas stocks compared to Brent crude which rose by 14%, we remain positive on the sector's long-term outlook due to sustained oil and gas spending. We thus expect earnings to continue playing catch up with valuations.
- We are not changing our benchmark valuation, currently at 15x CY12 earnings with either a premium or a discount accorded to each oil & gas stock under our coverage. Our oil & gas stock calls are unchanged other than Perdana Petroleum which has been upgraded to Market Perform due to a pull back in its share price.
Source: RHB Research - 3 April 2012
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