KUALA LUMPUR: Affin Research has maintained its Sell rating on UMW-OG with a target price of RM3.10 and remains neutral on its jack-up rig’s construction cost of US$218mil.
In a note on Friday, Affin said it favours the group’s management and the good prospects of Malaysia’s jack-up rigs market and believes the UMW-OG’s valuation is stretched with limited upside potential.
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