KUALA LUMPUR (Oct 10): Spikes in petroleum tanker rates will lift MISC's earnings in 4Q, Maybank Kim Eng says. The brokerage raises its 2019, 2020 and 2021 earnings forecast on the Malaysian energy-shipping firm by 12%, 9% and 9%, respectively as it takes into account higher tanker rates and delivery of seven new shuttle tankers. 

Maybank maintains a buy rating and raises its price target to RM8.50 from RM7.70, citing potential shipping contract wins in 4Q on top of its strong balance sheet and above-market dividend yield. 

MISC last closed at RM7.98.