KUALA LUMPUR (March 9): CGS-CIMB Securities has upgraded Dialog Group Bhd to “add” at RM2.38, with an unchanged target price (TP) of RM2.74, on valuation grounds after the recent share price correction.

In a note on Thursday (March 9), the research house said Dialog may see better quarterly earnings ahead from rising tank utilisation and storage rates, and if it secures higher rates for plant maintenance work.

“Faster than expected progress in securing new customers for its Pengerang Deepwater Terminal is another strong potential catalyst,” it said.