Bursa Malaysia Stock Watch

Perisai Petroleum: Maintain Buy - Preparing For Growth

kltrader
Publish date: Thu, 24 May 2012, 09:43 AM
kltrader
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Maintain BUY; new TP at MYR1.20. 1Q12 results were broadly ahead of expectations, prompting a 5-6% upgrade in EPS and TP. Perisai is a growth stock with business credibility and Ezra as its strategic shareholder. While it has announced a venture into the rig charter business, a move into the FPSO market is still likely. Our TP is pegged to 11x 2013 EPS, comparable to peers with a sub-MYR1b market cap.

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Source: Maybank Research - 24 May 2012
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