Stock Pick: PESTECH International
Kenanga Research has made an “outperform” recommendation to PESTECH International Bhd. It said that it continues to like this niche utility infrastructure play which could potentially benefit from the revival of mega projects domestically and the fast-growing energy infrastructure development market in Indochina.
It said that as such, it continues to rate the stock an OUTPERFORM with an unchanged target price of RM1.11 which is based on a 3-year moving mean of 14x FY22E PER.