SapuraKencana's target price raised
Publish date: Fri, 27 Jul 2012, 06:13 AM
Hong Leong Investment Bank Research raised its target price on shares of SapuraKencana Petroleum Bhd to RM2.68 from RM2.60 after the oil and gas services firm won two OandG contracts worth up to RM300 million.
As of 10.04am, shares in SapuraKencana rose 0.43 percent to RM2.36 ringgit against the Malaysian benchmark stock index's 0.03 percent gain.
"We view the contract award positively and in line with our view that SapuraKencana is a proxy to global growth in offshore OandG production growth," Hong Leong said in a note on Friday.
Keeping its "buy" rating on the company, the research house said the award highlights SapuraKencana's specialised knowledge in gas-related fabrication and offshore field work. -- Reuters
As of 10.04am, shares in SapuraKencana rose 0.43 percent to RM2.36 ringgit against the Malaysian benchmark stock index's 0.03 percent gain.
"We view the contract award positively and in line with our view that SapuraKencana is a proxy to global growth in offshore OandG production growth," Hong Leong said in a note on Friday.
Keeping its "buy" rating on the company, the research house said the award highlights SapuraKencana's specialised knowledge in gas-related fabrication and offshore field work. -- Reuters
Labels: SAPNRG
Discussions
Be the first to like this. Showing 1 of 1 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
1
2
Koon Yew Yin's Blog
3
TA Sector Research
4
Good Articles to Share
Le Pen makes new threat to withdraw support for French government
5
Good Articles to Share
US lawmakers say Hong Kong is becoming hub for financial crime — report
6
Good Articles to Share
7
Good Articles to Share
Global airfares set to rise yet again in 2025, Amex report says
8
M+ Online Research Articles
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
alexmichael
Foundamental sound share based on write out that I read in papers. Perhaps, breakout is imminent. However, technically I m unsure unless some one who is good in T.A. or charting can advise..
2012-07-30 06:42