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
Add BT as a preferred source
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.
TRENDING NOW
Extra S$300 in CDC Vouchers, U-Save rebates for households as part of S$900 million support package
Singapore banks’ battle for wealth talent goes beyond private bankers
Keep moving, keep learning, live fully: Lessons from actor Tay Ping Hui and a ‘granfluencer’
Philippines’ income upgrade hides grim reality for most Filipinos
