Quick take: Yinson slides after Petrobras postpones project

TheStar Mon, Oct 19, 2020 09:27am - 3 years View Original


Maybank Research downgraded Yinson to Hold and cut the target price to RM5.45. The previous target price was RM7.20.

KUALA LUMPUR: Yinson’s share price fell to a low of RM4.88 in early Monday trade after Petrobras has decided to postpone the Parque Das Baleias (PDB) project by one year, pushing back the first oil production to 2024.

At 9.21am, it was trading at RM5, down 43 sen. There were 1.40 million shares done.

The FBM KLCI rose 6.15 points or 0.41% to 1,509.99. Turnover was 1.28 billion shares valued at RM538.51mil. There were 399 gainers, 209 losers and 375 counters unchanged.

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