0219 GMT - Oiltek International is likely to post double-digit earnings growth in 2024-2026, UOB Kay Hian analysts say in a research report. Its track record is solid, backed by the ability to deliver nearly US$1 billion of total contract value and to win repeat orders regularly from major customers, the analysts say. The vegetable and edible oil process engineering company's order book is expected grow by around 10% annually in 2025 and 2026, driven by higher biodiesel blending requirements in Malaysia and Indonesia, the analysts add. The brokerage initiates its coverage of the stock with a buy rating and a target price of S$1.22. Shares are 0.5% lower at S$0.995. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 11, 2024 21:19 ET (02:19 GMT)
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