KUALA LUMPUR: AmResearh has maintained its Buy recommendation on SapuraKencana Petroleum Bhd , with an unchanged fair value of RM5.70 a share, based on an FY15 PE of 22 times, which is the 2007 peak achieved by Kencana Petroleum.
"We maintain SapuraKencana’s FY15F-FY17F earnings, which will not be affected by changes in shareholder stakes. Seadrill has placed out 230 million SapuraKencana shares at RM4.30 a share, valued at RM989mil," it said on Thursday.
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