Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 7 Apr 2014

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Publish date: Mon, 07 Apr 2014, 09:29 AM
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This blog publishes research highlights from Affin Hwang Capital Research.

Perisai Petroleum; Buy; RM1.62 Perisai Petroleum
Price targetRM 1.85 (Prev RM 2.00); PPT MK
Look beyond 2014 Look beyond 2014

Expect weak 1Q14 results due to idling vessels; cut FY14-16F earnings by 23%/8%/8%. Longer-term earnings prospects remain sound, with expansion into production and drilling business. Strong 3-year earnings CAGR of 64% over FY13-16F; maintain BUY with RM1.85 TP.

Source: HwangDBS Research - 7 Apr 2014

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