Tuesday, 16 August 2016

Petronas Dagangan - A Solid 2Q16

Maintain OUTPERFORM. We keep our FY16-FY18 earnings estimates unchanged for now. Price target is also maintained at RM25.40/share which is based on an unchanged valuation basis of -0.5 SD 3-year average PER of 27x. Thus, the stock is maintained at OUTPERFORM. Risks to our call include drop in business volume and a sudden plunge in MOPS within a brief period of time.

 http://klse.i3investor.com/servlets/staticfile/287212.jsp

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