Petronas Gas Bhd (PetGas) faces little earnings risk as the company’s operational trends are inherently stable, according to Maybank Investment Bank Research.
The research house is maintaining its “hold” call on PetGas with an unchanged target price of RM24. It said the target price was based on DCF, assuming 6.4% WACC and 2% long-term growth.
“Our target price implies a PER of 26.3 times and net yield of 2.7% in 2015,” it said on Thursday.
PetGas rose 22 sen to RM22.74 in early trade.
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The research house is maintaining its “hold” call on PetGas with an unchanged target price of RM24. It said the target price was based on DCF, assuming 6.4% WACC and 2% long-term growth.
“Our target price implies a PER of 26.3 times and net yield of 2.7% in 2015,” it said on Thursday.
PetGas rose 22 sen to RM22.74 in early trade.
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