KUALA LUMPUR: CIMB Research has maintained its Outperform rating on SapuraKencana with a target orice of RM6.65 as it continued to value the stock stock at 22.3 times CY15 P/E, a 40% premium over its CY15 target market P/E of 15.9 times.
“The recently-announced Newfield purchase is a major re-rating catalyst that supports our Outperform call. SapuraKencana is our top pick among the oil & gas big caps,” it said on Monday.
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