MISC
Aseambankers is maintaining its buy recommendation for MISC with a target price of RM11 based on 14 times financial year 2010 earnings. It is positive on the company's long-term prospects as an energy solution play, leveraging on its partnership with Petronas for growth. It said MISC's financials, however, were unlikely to create much excitement in the near term due to rising bunker and drydock costs and falling petroleum tanker rates, which could cap earnings growth.
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