Sit out the O&G storm for CSE Global

SINGAPORE (Oct 13): OCBC Research is maintaining a “hold” call on engineering group CSE Global with a fair value of 43 cents, citing the uncertain impact of the proposed cut in production by OPEC members in a note published on Wednesday.

Lead analyst Eugene Chua notes that while oil prices rose when Russia said it would support a proposal by OPEC to limit output, not all members might stick to the agreement at the OPEC meeting on Nov 30.

Russia’s support could mean little to the agreement should differences between Iran and Saudi Arabia impede any agreement at the meeting, notes Chua.

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