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RHB Research maintains Buy on SapuraKencana, lowers fair value to RM5.33

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RHB Research maintains Buy on SapuraKencana, lowers fair value to RM5.33 Empty RHB Research maintains Buy on SapuraKencana, lowers fair value to RM5.33

Post by Cals Fri 20 Jun 2014, 01:43

RHB Research maintains Buy on SapuraKencana, lowers fair value to RM5.33
Business & Markets 2014
Written by theedgemalaysia.com   
Thursday, 19 June 2014 08:29

KUALA LUMPUR (June 19): RHB Research has maintained its Buy rating on SapuraKencana Petroleum Bhd at RM4.28 with a lower fair value (FV) of RM5.33 (from RM5.61) and said it met with the company’s management recently and emerged positive on SapuraKencana’s business developments.

In a note Thursday, the research house said its FY15/16 earnings forecasts now reflect estimated Newfield upstream asset contributions.

“Maintain Buy, albeit with a lower SOP-based FV of RM5.33 (from RM5.61).

“We still like the company for its potential, yet-to-be-unlocked value, good partnership with Seadrill and excellent job execution,” it said.
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