Kencana Petroleum Bhd remains a top pick for OSK Research in the oil and gas sector due to its delivery track record.
The research house has maintained a trading "buy" for Kencana with the target unchanged at RM3.05.
"We believe another re-rating of its share price will happen
sometime in the fourth quarter of this year, when there is more guidance from management on the potential contribution from the Berantai marginal field," said OSK Research said in its research note today.
Yesterday, the company announced that its 100 per cent owned subsidiary, Kencana HL SB, has secured a contract from Kebabangan Petroleum Operating Company SB for the fabrication of Kebabangan substructure for Kebabangan Northern Hub Development Project.
"We had expected Kencana to win at least a portion of it given the company’s delivery track record and available yard space.
"We understand that Kencana’s utilisation rate had recently
increased to about 60 per cent but there is still ample room to take on more jobs," OSK Research added.
OSK Research said Kencana's order book should increase to about RM2.4 billion and this is expected to keep the company busy for the next two years. Meanwhile, Kencana’s tender book was about RM5.0 billion.
Hotels near Petroleum Hub are essentially utlised by oil and gas company executives, engineers, and has helped provide a boom for once quiet little towns such as Bintulu, Pekan Baru, Pengerang.
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2011
(72)
-
▼
May
(41)
- OSIM Target Price $2.11 BUY by OCBC Research
- Petronas Chemicals BUY Target Price RM9.28 by OSK ...
- KNM BUY Target Price RM3.20 by Maybank IB Research
- Four Seasons Hotel Bangkok Room Rate Promotion
- Hock Seng Lee HSL Target Price RM2.50 by OSK Research
- Keppel Land BUY Target Price $5.36 by CIMB Equitie...
- UOB BUY Target Price $25 by Credit Suisse
- Golden Agri BUY Target Price $0.83 by Phillips Sec...
- Ubud Hanging Gardens Bali Resort Hotel Promotion 2011
- Tiger Airways Target Price SELL $1.43 by CIMB Rese...
- Mudajaya Target Price RM7.94 BUY CIMB Research
- AirAsia BUY Target Price RM3.57 OSK Research
- Cheung Kong Target Price HK$144 Goldman Sachs BUY
- Cathay Pacific Target Price HK$17.50 Sell by CLSA
- China Unicom Target Price HK$20 by UBS
- Hang Seng Bank Target Price HK$130 by Nomura
- IOI Corp Target Price RM4.39 by OSK Research
- Genting Malaysia Target Price RM4.05 by OSK Research
- Dialog Target Price RM3.27 by CIMB
- Golden Agri Target Price $0.96 by OCBC Research
- Supermax Target Price RM6.91 BUY by OSK Research
- Banyan Tree Madivaru Maldives Atoll Summer Promoti...
- Kencana Petroleum Target Price RM3.17 BUY by OSK R...
- Angang Steel Target Price HK$12.40 ICBC Equity Res...
- Bangkok Bank Target Price THB187 Kim Eng Research
- AirAsia Target Price RM3.65 by ECM Libra BUY Rating
- The Sentosa Spa Resort Singapore
- Genting Singapore BUY Target Price $2.74 by Philli...
- Kencana Petroleum BUY Target Price RM3.05 by OSK R...
- Maybank BUY Target Price RM10.07 by OSK Research
- Global Logistic Properties BUY Target Price $2.90 ...
- SIA BUY Target Price $18.50 by Credit Suisse
- Sembcorp Marine BUY Target Price $6.60 by Phillips...
- Sembcorp Marine BUY Target Price $6.60 by Credit S...
- AirAsia BUY Target Price RM4.80 by Credit Suisse
- Burj Al Arab Hotel 7 Star Dubai Hotel Promotion 2011
- Yangzijiang BUY Target Price $2.42 by OCBC
- Japanese Asia Hotel Deals 2011
- DBS BUY Target Price $18.00 by RBS
- QL Resources BUY Target Price RM4.00 by OSK
- AirAsia BUY Target Price RM3.80 by HLIB
-
▼
May
(41)
No comments:
Post a Comment