0751 GMT - Oiltek International's 2025-2026 earnings are supported by its order book, CGS International's William Tng says in a research report, as the brokerage maintains its add rating for the stock. Management said that it's optimistic on the outlook for the next two years, as the company's order book of MYR354.9 million as of Feb. 12 is expected to be completed over the next 18-24 months, the analyst notes. Management also continues to see order-win opportunities in its edible and non-edible oil refinery segment, given population growth and growing food demand, Tng notes. However, the brokerage trims the target price to S$1.43 from S$1.44, based on estimated peer-sector average 2026 price-to-earnings of 18.3x versus the previous forecast of 18.4x. Shares are 2.6% higher at S$1.18. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 02:51 ET (07:51 GMT)
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