KUALA LUMPUR: Analyst believe there is more room for share price upside for EA Technique (M) Bhd (ETB) as the company's trading in Bursa Malaysia has hit an all-time high.
At opening today, ETB share price has hit 16 sen from 15 sen. Prices have been surging from last week's opening of 14sen.
A local research head who spoke on anonymity said that as global charter rates continue to improve, ETB is likely to secure new contracts with revised charter rates.
Further, the source said ETB would likely be lifted from PN17 status after the company secures new contracts.
The company posted its highest-ever profit after tax at RM5.7 million on the back of a revenue of RM43 million for the quarter ended 30 September 2020.
The source also revealed that the company is expected to double its profits in the coming quarter as its business has returned strongly post-Covid-19.