KUALA LUMPUR: CIMB Equities Research has initiated coverage of Perisai Petroleum Bhd with a BUY call and a target price of 80 sen, which implies 38% potential upside.
It said on Tuesday, March 8 its target price is pegged to its target market P/E of 14.5 times. The potential re-rating catalysts are a growing fleet of strategic assets, and success in new markets.
'We like Perisai for several reasons. This under-researched stock is underappreciated; the company is set to benefit from opportunities in the deepwater transport & installation segment while a skilled new management is firmly in place and is backed by Ezra's operational strength,' it said.
CIMB Research said gone are the days of corrosion control and earnings volatility as the company is now streamlined with a focus on vessel chartering.
'Our initiation is timely given Perisai's recent clinching of a Petronas licence and ongoing acquisition of a vessel operator,' it said.
It said on Tuesday, March 8 its target price is pegged to its target market P/E of 14.5 times. The potential re-rating catalysts are a growing fleet of strategic assets, and success in new markets.
'We like Perisai for several reasons. This under-researched stock is underappreciated; the company is set to benefit from opportunities in the deepwater transport & installation segment while a skilled new management is firmly in place and is backed by Ezra's operational strength,' it said.
CIMB Research said gone are the days of corrosion control and earnings volatility as the company is now streamlined with a focus on vessel chartering.
'Our initiation is timely given Perisai's recent clinching of a Petronas licence and ongoing acquisition of a vessel operator,' it said.
No comments:
Post a Comment