<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 4): Petronas Chemicals Group Bhd's share price jumped as much as 27 sen or 5.09% to RM5.57 so far today after Morgan Stanley upgraded the stock to "overweight" and following the Employees Provident Fund's (EPF) purchase of more shares in it.</p></div>

<div class=newsTextDataWrapInner><p>At 4:04pm, Petronas Chemicals shares pared gains at RM5.51 for a market capitalisation of RM44.08 billion. The stock saw some five million shares traded.</p></div>

<div class=newsTextDataWrapInner><p>Bloomberg reported today that Morgan Stanley analyst Mayank Maheshwari raised the recommendation on Petronas Chemicals to "overweight" from "equal-weight".</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"Price target (PT) set to RM6.08 implies a 15% increase from [the] last price. Petronas Chemicals average PT is RM6.32. Targets range from RM5.10 to RM8.90," Bloomberg reported.</p></div>

<div class=newsTextDataWrapInner><p>The EPF bought more shares in Petronas Chemicals recently. Petronas Chemicals' Bursa Malaysia filings show the EPF owned 618.78 million shares or a 7.735% stake in Petronas Chemicals on Feb 20.</p></div>

<div class=newsTextDataWrapInner><p>Last Wednesday (Feb 26), the EPF raised its stake to 7.934%, comprising 634.69 million shares, after buying 7.81 million shares.</p></div>


Petronas Chemicals Group Bhd's share price jumped as much as 27 sen or 5.09% to RM5.57 so far today after Morgan Stanley upgraded the stock to "overweight" and following the Employees Provident Fund's (EPF) purchase of more shares in it.

Petronas Chemicals jumps after EPF ups stake, Morgan Stanley upgrade

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