CGS-CIMB Research said Petronas Dagangan told analysts at the briefing that it had “a lot of plans” in the next six-12 months, and would want to preserve its cash balance for “major investments”.
KUALA LUMPUR: CGS-CIMB Equities Research is maintaining its Hold call for Petronas Dagangan and dividend discount model-based target price of RM22.25 due to few upside catalysts.
It said on Tuesday Petronas Dagangan may face several headwinds in the future as far as retail volume growth is concerned, while commercial diesel is already seeing pricing pressure.
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