Goldman Sachs upgraded Petronas Chemicals (PECGF) to Neutral from Sell with a price target of MYR 5.90, up from MYR 2.70. The company is “a clear beneficiary” of the current disruption given its largely gas-based, relatively fixed price feedstock from its parent company Petronas, argues the firm, which sees both “significantly improved” earnings and a more balanced risk reward after a recent rally.
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