KUALA LUMPUR: CIMB Equities Research downgrades Petronas Gas from Outperform to Neutral and keeps Gas Malaysia as an Outperform.
"We upgrade Gas Malaysia's FY13-14 core EPS estimates by 3%-17% and cut PetGas's earnings by 3%-5%. Hence, the sector is downgraded from Overweight to Neutral. Our valuation years for both are rolled over to CY13," it said on Tuesday.
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