Pacific Radiance

Pacific Radiance: UOB Kay Hian estimates that current share price has factored in Brent oil price of US$60/bbl. Should oil price fall to US$50/bbl, share price could fall another 16%. However, house sees oil prices at US$40-50/bbl to likely be temporary. For investors with a longer-term view, house calls an opportunity to bottom fish. UOB Kay Hian maintains BUY with TP of $1.57.