KUALA LUMPUR: MIDF Research is upgrading its call to ‘neutral’ from ‘sell’ on Malaysia Marine and Heavy Engineering (MMHE) with a target price of RM1.27 per share, based on financial year 2016, price to earnings ratio of 14 times, pegged to earnings per share of 9.1sen.
MIDF Research said the upgrade is due to its improving earnings outlook and stabilising crude oil prices.
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