MIDF RESEARCH MAINTAINS 'BUY' CALL ON DIALOG, OPTIMISTIC OUTLOOK FOR FY22
KUALA LUMPUR, Oct 18 -- MIDF Research has maintained its 'buy’ call for Dialog Group Bhd, with a lower target price of RM4.15 from RM4.30 previously, as it believes that the group’s robust business structure is able to sustain it through the uncertainties of the pandemic and the oil and gas prices volatility.
In a note today, the research firm said the growing interest for low-carbon operations and products among oil and gas players would definitely assist Dialog’s sustainability ventures in the long term.
"Furthermore, Dialog is also investing in its workforce and leveraging technology to continue improve its prospects in financial year 2022 (FY22).
"We are hopeful that, with the rebalancing of the crude oil and natural gas market and the growth on oil and gas operations expected in FY22, as well as the improvement on demand recovery, Dialog’s long-term prospects will remain positive," it said.
Based on media reports following the release of its annual report, Dialog Group Bhd (Dialog) stated that it remains optimistic that activities will pick up in FY22.
The group has also indicated its intentions to further improve its digital transformation initiative to strengthen its competitiveness and adaptability in a post-pandemic economic environment.
At 11 am, Dialog shares rose one sen or 33 per cent to RM3.01, with 1.79 million shares transacted.
-- BERNAMA
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