RH Petrogas price target raised to 40 cents by Credit Suisse

Stock Name: RH PetroGas
Company Name: RH PETROGAS LIMITED

Research House: Credit Suisse

Price Call: HOLD

Target Price: 0.40

SINGAPORE (March 5): Credit Suisse has bumped up its price target for RH Petrogas to 40 cents from 38 cents to reflect the company's lower net debt position.

The oil and gas explorer's operating cash flows in 2014 rose to US$24.2 million ($33 million) from US$12.1 million the previous year, driven by a reduction in trade and other receivables.

That left it with US$36.7 million in cash on its balance sheet at the end of last year.