Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Sept 23): Kenanga Research has maintained its “outperform” rating of Yinson Holdings Bhd at RM2.30 with a higher target price (TP) of RM3.15 and said Yinson’s 1HFY23 results beat expectations, thanks to stronger engineering, procurement, construction, installation and commissioning (EPCIC) profits with the commencement of works on FPSO Atlanta.

In a note on Friday (Sept 23), the research house said that eyeing further growth opportunities, the company is reportedly the front runner for Eni’s Agogo project, offshore Angola.

“We raise our FY23F/FY24F earnings by 15%/5%, increasing our TP by 26% to RM3.15 (from RM2.50 previously),” it said.

      Print
      Text Size
      Share