Affin Hwang Capital Research.kept its “sell” rating and RM4.61 target price on the stock as it sees limited upside in average selling price recovery on the back of potentially weaker Brent crude oil prices in the second half of 2020.
KUALA LUMPUR: Petronas Chemicals Bhd’s share price has rallied in tandem with the recovery in global oil prices although the advance has far exceeded fundamentals, says Affin Hwang Capital Research.
The research house kept its “sell” rating and RM4.61 target price on the stock as it sees limited upside in average selling price recovery on the back of potentially weaker Brent crude oil prices in the second half of 2020.
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