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NewsMIDF raises Dayang target price
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MIDF raises Dayang target price
by hlk Tue 07 May 2013, 10:58
MIDF Research has raised its target price for oil and gas service
provider Dayang Enterprise Holdings Bhd to RM4.41 from RM3.95 after the
company secured a RM313.6 million contract from Murphy Sarawak.
The contract, for the hook-up, commisioning and maintanence of
Murphy’s offshore assets, will raise Dayang’s orderbook this year to
RM1.5 billion from RM1 billion, said MIDF in a report on Tuesday. MIDF
maintained a 'buy' call on Dayang.
"We are bullish on the oil and gas sector, and DEHB is expected to
be one of the key beneficiaries this year," said MIDF. The brokerage
expects Dayang to see a strong contract flow, following the passing of
the country’s general election this week.
Shares of Dayang rose 2.14 per cent to RM3.82 while the benchmark index gained 0.54 per cent.-- Reuters
provider Dayang Enterprise Holdings Bhd to RM4.41 from RM3.95 after the
company secured a RM313.6 million contract from Murphy Sarawak.
The contract, for the hook-up, commisioning and maintanence of
Murphy’s offshore assets, will raise Dayang’s orderbook this year to
RM1.5 billion from RM1 billion, said MIDF in a report on Tuesday. MIDF
maintained a 'buy' call on Dayang.
"We are bullish on the oil and gas sector, and DEHB is expected to
be one of the key beneficiaries this year," said MIDF. The brokerage
expects Dayang to see a strong contract flow, following the passing of
the country’s general election this week.
Shares of Dayang rose 2.14 per cent to RM3.82 while the benchmark index gained 0.54 per cent.-- Reuters
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