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KGI raises Rex International target price to S$0.54 on higher oil prices

Increased cash flow provides it "a sizeable war chest" to fund growth, diversification plans

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Tan Nai Lun

Tan Nai Lun

Published Fri, Mar 11, 2022 · 09:50 PM

    Singapore

    OIL and gas company Rex International is set to benefit from rising oil prices as well as its strong balance sheet, said KGI Securities.

    In a report on Friday (Mar 11), analyst Joel Ng raised his target price on the counter to S$0.54 from S$0.40, and maintained his "outperform" call, after raising forecasts for oil prices.

    rex internationalOil pricesOil and gasBrokers' Take

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