KUALA LUMPUR: OSK Research said the share prices of oil and gas stocks are undergoing a re-rating, largely fuelled by positive market sentiment and strong news flow.
It said on Friday, Jan 21 that going forward, it thinks that partnerships or actual contract awards will be the main 'push' factor for further share price upside and the lucky companies will continue to outperform those which lack news flow.
'Our average sector PER valuation is raised from 13.2x to 16.6x. Maintain Overweight on the sector, with our top picks being Kencana Petroleum, Alam Maritim, Petra Perdana and Petra Energy,' it said.
It said on Friday, Jan 21 that going forward, it thinks that partnerships or actual contract awards will be the main 'push' factor for further share price upside and the lucky companies will continue to outperform those which lack news flow.
'Our average sector PER valuation is raised from 13.2x to 16.6x. Maintain Overweight on the sector, with our top picks being Kencana Petroleum, Alam Maritim, Petra Perdana and Petra Energy,' it said.
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