For Petronas Chemicals Group Bhd, it has raised valuation on the stock from nine times to 11 times 2022 enterprise value over earnings before interest, taxes, depreciation, and amortisation (EV/Ebitda).
PETALING JAYA: Businesses have reopened and some analysts are turning positive on the oil and gas (O&G) sector on expectations that demand for oil, which plummeted during the outbreak of Copvid-19, will rebound.
TA Research, for one, has upgraded its 2021-2022 oil price assumption to US$70 to US$75 (RM292 to RM313) per barrel from its previous expectation of US$65 to US$70 (RM271 to RM292) per barrel.
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