AmInvestment Research retained its Hold call for Petronas Gas (PGas) with an unchanged sum-of-parts-based (SOP) fair value of RM15.35 a share, which implies an FY19F price-to-earnings (PE) of 16 times.
KUALA LUMPUR: AmInvestment Research retained its Hold call for Petronas Gas (PGas) with an unchanged sum-of-parts-based (SOP) fair value of RM15.35 a share, which implies an FY19F price-to-earnings (PE) of 16 times.
“Pending an analyst briefing later this morning, PGas’ FY19F to FY21F earnings are maintained as the group’s 9MFY19 core net profit of RM1,412mil was within expectations, accounting for 75% of our FY19F earnings and 76% of consensus.
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