PETGAS–Fundamental Analysis (7 May 2014)

PETGAS Analysis:-

Excel – http://1drv.ms/1g8feJ4

My View:-

– Fair value
  – Absolute EY%: 17.13 – 20.16 (MOS: -15.86%)
– PETGAS is current fully valued. MOS for PETGAS should be 17%.
– I do not expect the stock to move up further from the current levels due to a lack of fresh catalysts (the Pengerang regasification terminal will only come onstream at the end of the decade). Valuations are not compelling, but the stock still appeals to funds seeking earnings stability.
– I will continue to hold PETGAS.

Latest Financial – Q1 2014 Financial Report (6 May 2014) http://www.bursamalaysia.com/market/listed-companies/company-announcements/1615589

At the time of writing, I owned shares of PETGAS.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s