MIDF Research maintains Neutral on PetGas, cuts target price to RM19.09
PETGAS (6033) PETRONAS GAS BHD
KUALA LUMPUR (Nov 5): MIDF Research has maintained its Neutral rating on Petronas Gas Bhd (PetGas) at RM21.,80 with a lower target price of RM19.09 (from RM21.38) and said PetGas’s 3Q14 normalised earnings rose 10.3% year-on-year (y-o-y) to RM418.8 million.
In a note Wednesday, the research house said PetGas’s gas transportation and utilities segment earnings grew 6.6% y-o-y and 10.1% y-o-y respectively
“However, earnings from its regasification segment shrank 19.1% y-o-y.
“Maintain Neutral stance on PetGas with revised target price of RM19.09,” it said.
At 9.28am, PetGas shed 0.09% or two sen to RM21.78 with 6,400 shares traded.
http://www.theedgemarkets.com
PETGAS (6033) PETRONAS GAS BHD
KUALA LUMPUR (Nov 5): MIDF Research has maintained its Neutral rating on Petronas Gas Bhd (PetGas) at RM21.,80 with a lower target price of RM19.09 (from RM21.38) and said PetGas’s 3Q14 normalised earnings rose 10.3% year-on-year (y-o-y) to RM418.8 million.
In a note Wednesday, the research house said PetGas’s gas transportation and utilities segment earnings grew 6.6% y-o-y and 10.1% y-o-y respectively
“However, earnings from its regasification segment shrank 19.1% y-o-y.
“Maintain Neutral stance on PetGas with revised target price of RM19.09,” it said.
At 9.28am, PetGas shed 0.09% or two sen to RM21.78 with 6,400 shares traded.
http://www.theedgemarkets.com
