"Nevertheless, we are optimistic of the order book trajectory regaining the upward traction given the group’s current bids of US$8.1bil and prospective tenders of US$13.6bil," AmInvest Research said.
KUALA LUMPUR: AmInvestment Research is maintaining its BUY call on Sapura Energy
(Sapura) with an unchanged fair value of 50 sen a share, based on a 40% discount to its book value of 87 sen a share which implies an FY22F PE of 30 times, within the group’s five-year peak.
The research house said on Friday while its FY22F earnings are maintained, it has lowered FY20F–FY21F EBITDA assumptions for Sapura’s engineering & construction (E&C) division by two percentage points.
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