KUALA LUMPUR (July 13): BIMB Securities Research said Uzma Bhd at RM2.41 with a higher target price of RM2.42 (from RM2.40) after Uzma announced last Friday that its subsidiary, Uzma Engineering SB has been awarded a contract by Petronas Carigali for the provision of services covering leasing, operation and maintenance of D18 field Water Injection Facility (WIF).
“Following the good news, we have revised our FY15/16 earnings assumption higher by 3% and 10% respectively,” it said in a note today.
“As such, our target price has been revised upwards to RM2.42 from RM2.40 based on 11x PE on FY15 EPS of 22sen.
“Maintain Hold,” it said.