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The document discusses Attock Refinery Limited (ATRL), a Pakistani oil refining company. It provides a target price of PKR 215/share for ATRL by December 2014 based on valuation of refinery operations and portfolio value. Refinery operations are currently unprofitable due to weak gross refinery margins. However, margins for key products like gasoline and diesel have started recovering, suggesting profitability may improve in the second half of the fiscal year. The company is also undertaking various upgrade projects expected to be completed by September 2015. In the short term, profitability remains uncertain but the analyst maintains a HOLD recommendation on the stock.
The document discusses Attock Refinery Limited (ATRL), a Pakistani oil refining company. It provides a target price of PKR 215/share for ATRL by December 2014 based on valuation of refinery operations and portfolio value. Refinery operations are currently unprofitable due to weak gross refinery margins. However, margins for key products like gasoline and diesel have started recovering, suggesting profitability may improve in the second half of the fiscal year. The company is also undertaking various upgrade projects expected to be completed by September 2015. In the short term, profitability remains uncertain but the analyst maintains a HOLD recommendation on the stock.
The document discusses Attock Refinery Limited (ATRL), a Pakistani oil refining company. It provides a target price of PKR 215/share for ATRL by December 2014 based on valuation of refinery operations and portfolio value. Refinery operations are currently unprofitable due to weak gross refinery margins. However, margins for key products like gasoline and diesel have started recovering, suggesting profitability may improve in the second half of the fiscal year. The company is also undertaking various upgrade projects expected to be completed by September 2015. In the short term, profitability remains uncertain but the analyst maintains a HOLD recommendation on the stock.