Dialog rises as Maybank upgrades to buy on storage expansion

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KUALA LUMPUR (Nov 14): FY18 to FY20 earnings estimates raised by 4% per annum and target price by 13%, incorporating added capacities at Tanjung Langsat, writes Liaw Thong Jung, analyst at Maybank Investment in a report dated Nov 13.

* Deal with Johor Corp to lease land and buy storage facilities positive: report

** Plan to expand storage by 300,000 cubic meter over time will raise overall capacity at Tanjung Langsat to 947,000 cubic meter

* Stock upgraded to buy from hold at Maybank; PT RM2.63 vs RM2.33

* Stock rises as much as 3.4%, set for highest close on record

** Shares up 11% in seven days, longest winning streak since March 2014