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Monday, October 24, 2011

CIMB Research maintains Overweight on O&G sector (Edge)

CIMB Equities Research said most local oil and gas players are strong enough to hold their ground should a change in Petroliam Nasional Bhd' licensing system result in more foreign competition.

“But marginal companies could see their piece of the pie getting smaller and the race for contracts get even tougher. Pending further details, the sector remains an Overweight,” it said on Monday, Oct 24.

CIMB Research said also intact are all its stock recommendations, earnings forecasts and target prices.

“Our top picks are Petronas Dagangan for the big caps and Perisai for the small caps,” it said.

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