KUALA LUMPUR: AmResearch is maintaining its Buy call on Bumi Armada
with an unchanged sum-of-parts based fair value of RM5.15 a share.
It said on Monday this at RM5.15, this implied a FY14F price-to-earnings (PE) of 23 times, which is a 15% premium to oil & gas stocks with market valuations above RM1bil.
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