HLIB ups MISC target price by RM1.30

KUALA LUMPUR: Hong Leong Investment Bank Research is maintaining its Buy call on shipping company MISC Bhd, with fair valuation increased to RM6.50 from RM5.20 and the sector put on Overweight.

It said the surge in global demand for liquefied natural gas had been on the rise, especially after the nuclear accident in Japan in 2011, and with Petronas now stepping up investment and production, MISC would – as a subsidiary and partner to the national oil company – likely stand to profit.