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MIDF Research maintains Neutral on MISC, raises target price to RM5.35

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MIDF Research maintains Neutral on MISC, raises target price to RM5.35 Empty MIDF Research maintains Neutral on MISC, raises target price to RM5.35

Post by Cals Mon 19 Aug 2013, 10:25

MIDF Research maintains Neutral on MISC, raises target price to RM5.35
Business & Markets 2013
Written by theedgemalaysia.com
Monday, 19 August 2013 09:32

KUALA LUMPUR (Aug 19): MIDF Research has maintained Neutral on MISC BHD [] at RM5.14 with a higher target price of RM5.35 (from RM4.76) and said MISC’s earnings missed expectations due to widening losses in Petroleum and Chemical shipping divisions.

In a note Monday, the research house forecast gloomy mid-term outlook for Petroleum and Chemical shipping.

“However, long-term charter contract of LNG and Offshore segment should help to support MISC’s bottomline going forward.

“Maintain Neutral stance. Roll-forward our valuation to FY14 EPS with revised target price of RM5.35, derived from Sum-of-Parts method.
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