SapuraKencana Petroleum (Company Update): New merged-entity listed

Date: 
2012-05-17
Firm: 
ECMLIBRA
Stock: 
SAPNRG
Price Target: 
2.52
Price Call: 
HOLD
Last Price: 
0.03
Upside/Downside: 
+2.49 (8300.00%)

Maintain HOLD, TP: RM2.52

SapuraKencana Petroleum will be listed today at the reference price of RM2.24. Current orderbook is RM13.6bn as at May 2012, while effective orderbook stands at RM10.6bn, representing 2.3x FY12 revenue. The company is almost at its full capacity, hence we are not expecting any more projects to contribute substantial earnings for the current financial year (FY13). We maintain our HOLD recommendation with unchanged TP of RM2.52, based on 20x FY13 EPS. This is in line with our EPS CAGR forecast of 20% for FY13-15.


Discussions
1 person likes this. Showing 6 of 6 comments

msivral

shld be moving up tomorrow

2012-05-17 19:59

cheongmichael

Ha,Ha,very happy to hear this,but base on WHAT ??

2012-05-17 20:20

talk2pkc

Unless you got hold power otherwise b very careful !!! current price incl current & next 12 months performance . Maybe present better opportunity if price drop below 2.00 !!

2012-05-17 20:40

Niky Mat Nicky Mood

Walk carefully...I think this counter can be a booby trap for speculators.It is not in a hurry to move up.It is more a fundamental-play stock.With the current prices of oil the old target price have shifted fundamentally.

2012-05-18 02:22

jayrc23

this counter is more like a political counter than a business counter...it tends to confuse people on it's movement.

2012-05-18 08:59

jayrc23

this counter is more like a political counter than a business counter...it tends to confuse people on it's movement.

2012-05-18 08:59

Post a Comment