Petronas Chemicals upgraded to buy at BNP; Price target RM8.50
KUALA LUMPUR (Oct 3): BNP Paribas Equity Research analyst Yong Liang Por upgraded the recommendation on Petronas Chemicals Group Bhd to buy from hold.
Por raised the target price to RM8.50 from RM7.30, implying a 16% increase from the last close. The target is 12% above the consensus average of RM7.56
ringgit. Petronas Chemicals had 7 buy recommendations, 10 holds and 5 sells before today.
Investors who followed Por's recommendation missed out on the 13% return on the shares in the year before today.
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