Bursa Malaysia Stock Watch

Petronas Chemicals Group: Maintain Buy - ASP Growth Under Pressure

kltrader
Publish date: Thu, 06 Sep 2012, 01:39 PM
kltrader
0 20,228
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.
  • Follow up from management conference call. 2H12 should see better plant utilisation rates, as there are only two more scheduled maintenance shutdowns for the rest of the year. However, product prices are trending lower and we trim our base ASP assumptions by 5% to reflect current market conditions. We maintain our BUY call with a revised target price of MYR7.10/share (previously MYR7.50) due to lower earnings forecasts. Our target price is premised on 12.7x FY13 PER, a 10% premium to global peers' historical mean PER.
Click here for full report

Source: Maybank Research - 6 Sept 2012
Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment