$PCHEM / 5183 (PETRONAS CHEMICALS GROUP BERHAD)
Research by TA
Buy – TP RM6.93

“Decline in Share Price Elevates Risk-Reward Potential"

We revised our TP higher to RM6.93/share (previous: RM6.77/share) pegged to 9x CY25 EV/EBITDA as we incorporated a 3% ESG premium in our TP. The recent drop in share price has enhanced the risk-reward profile, leading us to upgrade our recommendation for PCHEM from HOLD to BUY.

Analyst:
Lee Yun Leon
yllee@ta.com.my