“While we have buy calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group," AmInvestment Research said.
KUALA LUMPUR: AmInvestment Research is upgrading the oil and gas sector to Overweight from Neutral as prospects have radically brightened with rising asset utilisation globally which supported service providers’ improving results.
In its research note issued on Friday, it said this was despite the continued volatility in the oil price direction exacerbated by the unresolved US-China trade tension, deteriorating global economic growth outlook and easing of US pipeline constraints.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
