KUALA LUMPUR, March 18 (Bernama) -- Analysts are positive over UMW on news that it has received a contract from Petronas Carigali Sdn Bhd for the provision of its Jack-up Drilling Rig "Naga 3" to Petronas' domestic operations in Malaysian waters.
The contract is worth RM126.6 million for a one-year duration, with a 1+1 year option for renewal.
In its research note here Friday, OSK Research continued to maintain its top "buy" call on UMW for the automotive sector with an unchanged target price of RM8.92.
Meanwhile, ECMLibra Investment Research viewed the Naga 3 contract as positive for the Group and retained its "buy" recommendation on UMW with a target price of RM8.16.
The contract is worth RM126.6 million for a one-year duration, with a 1+1 year option for renewal.
In its research note here Friday, OSK Research continued to maintain its top "buy" call on UMW for the automotive sector with an unchanged target price of RM8.92.
Meanwhile, ECMLibra Investment Research viewed the Naga 3 contract as positive for the Group and retained its "buy" recommendation on UMW with a target price of RM8.16.
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