KUALA LUMPUR: Kenanga research has downgraded Petronas Dagangan Bhd
as it believes it is now overpriced and the market is yet to fully factor in the earnings risks.
The research house said in a note that the market has been overly optimistic on Petronas Dagangan given its recent rebound from a five-year low as its earnings are expected to take a big hit from the ongoing movement control order (MCO) and worldwide lockdown.
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