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RHB Research upgrades Petra Energy to Buy, raises fair value
by Cals Tue 06 Aug 2013, 09:40
RHB Research upgrades Petra Energy to Buy, raises fair value
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 06 August 2013 09:32
KUALA LUMPUR (Aug 6): RHB Research has upgraded PETRA ENERGY BHD [] to a Buy (from Neutral) at RM2.39 with a higher fair value of RM2.70 (from RM2.34) and said from its recent meeting with the company, it understood that Petra Energy’s turnaround strategies, which would enhance the group’s net profit margins, will likely bear fruits in FY14.
In a note Tuesday, the research house said it expects Petra Energy’s FY13 net profit margin to remain benign given the legacy projects, which are low in margins, but expects FY14 to be stronger on various initiatives.
“With some 13.0% upside to our fair value, we upgrade Petra Energy to a Buy,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 06 August 2013 09:32
KUALA LUMPUR (Aug 6): RHB Research has upgraded PETRA ENERGY BHD [] to a Buy (from Neutral) at RM2.39 with a higher fair value of RM2.70 (from RM2.34) and said from its recent meeting with the company, it understood that Petra Energy’s turnaround strategies, which would enhance the group’s net profit margins, will likely bear fruits in FY14.
In a note Tuesday, the research house said it expects Petra Energy’s FY13 net profit margin to remain benign given the legacy projects, which are low in margins, but expects FY14 to be stronger on various initiatives.
“With some 13.0% upside to our fair value, we upgrade Petra Energy to a Buy,” it said.
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