Part of the sellers were absorbed at 1.8 today. Expect it to re-test 1.8 tomorrow with less seller now. With Saudi tender and quarter result due to be released soon, hopefully Barakah can break new high. Cheers!
Assuming with Arab T&I contract of potential 50mil additional profit, total fully yr profit could be more than RM150mil. With 14x PE of a small-mid cap O&G and on a fully diluted EPS about 18Sen, target price is RM2.52.
Prudently on RM120mil (20% discount on RM150mil profit), target is RM2.02.
More aggressive stance say on 18xPE and EPS 18Sen, target price RM3.25 (wow !!!)
Buy if u think the T&I contract is coming ... better value in LA ...
I would think that the potential Saudi project factor would have already been factored into the price to a large extent as it has been known for sometime.
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Risk Trader
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Posted by Risk Trader > 2014-01-28 21:08 | Report Abuse
No good news just technical rebound...tomorrow will down back