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NewsRHB raised Dayang to a "Buy" call, ups its FV to RM6.50
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RHB raised Dayang to a "Buy" call, ups its FV to RM6.50
by hlk Tue 28 May 2013, 12:56
PETALING JAYA: RHB Research upgraded Dayang Enterprise Holdings Bhd to a “Buy” with a revised fair value of RM6.50.
The
research house said it had also raised Dayang's 2013 to 2014 earnings
forecasts and assumed a total of RM3.8bil worth of order wins from its
Pan-Malaysia Hook-up and commissioning tender.
“Dayang Enterprise
has received a letter of award to provide hook-up, commissioning and
topside maintenance services from Petronas Carigali.”
“While we
were right to predict the short-term weakness on its share price, we
believe that its share price should re-rate further to incorporate its
total contract win of an estimated MYR3.3bil to RM3.5bil,” it said.
The
research house said it had also raised Dayang's 2013 to 2014 earnings
forecasts and assumed a total of RM3.8bil worth of order wins from its
Pan-Malaysia Hook-up and commissioning tender.
“Dayang Enterprise
has received a letter of award to provide hook-up, commissioning and
topside maintenance services from Petronas Carigali.”
“While we
were right to predict the short-term weakness on its share price, we
believe that its share price should re-rate further to incorporate its
total contract win of an estimated MYR3.3bil to RM3.5bil,” it said.
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