0242 GMT - Oiltek International seems to be winning more orders, Phillip Securities Research's Paul Chew says in a research report, as the brokerage raises the stock's target price to S$1.48 from S$1.19 with an unchanged buy rating. As plantation production and acreage grow outside Southeast Asia, the integrated process technology and renewable energy solutions provider is obtaining additional refinery orders, the head of research notes. The brokerage is upbeat on the Singapore-listed company's new orders to be secured this year, with biodiesel capacity in Indonesia and Malaysia and refining facilities in South America as areas of opportunity. Shares are 0.85% lower at S$1.17. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 21:42 ET (02:42 GMT)
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