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CIMB Research initiates coverage of SapuraKencana with Outperform

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CIMB Research initiates coverage of SapuraKencana with Outperform Empty CIMB Research initiates coverage of SapuraKencana with Outperform

Post by hlk Mon 04 Jun 2012, 13:20

KUALA LUMPUR: CIMB Equities Research said SapuraCrest and Kencana merged for scale and strength, creating an entity that is one of the world's top five integrated O&G service providers.
It
said on Monday that the strong order book momentum, aggressive
expansion in Brazil and a massive new-build programme support its
exciting growth.
“We begin coverage with an Outperform call,
valuing the stock at 18.2 times CY13 P/E, a 40% premium over our target
market P/E. The stock replaces Petronas Dagangan as our top pick for oil & gas big caps,” CIMB Research said.
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CIMB Research initiates coverage of SapuraKencana with Outperform Empty Re: CIMB Research initiates coverage of SapuraKencana with Outperform

Post by Cals Mon 04 Jun 2012, 13:22

+1 40% premium is around rm3
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