The oil and gas outfit is confident of winning contract extension for Perdiz Plant, it remarks.
PETALING JAYA: TA Securities Research has placed an optimistic outlook on oil and gas firm Coastal Contracts Bhd on the back of higher earnings forecast.
The upward revision was due to an adjustment to the tariff estimate for the Papan Plant, in line with the revenue breakdown given by the company’s management. In a note today, TA Securities has upgraded Coastal Contracts Bhd to “buy” at RM1.98 with a higher target price of RM2.47 from RM2.37. The group is currently finalising the terms with Pemex, with an indicative extension duration of 2- 3 years.
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