Stock Name: EzionHldg
Company Name: EZION HOLDINGS LIMITED
Research House: CIMB
Company Name: EZION HOLDINGS LIMITED
Research House: CIMB
Shares of Singapore’s offshore marine services firm Ezion Holdings (EZHL.SI) jumped as much as 4.3% on Thursday to a 12-week high, extending recent gains following several broker upgrades after it won a jackup rig contract.
At 10:26 a.m., shares of Ezion were traded at $0.735 with over 14.5 million shares changing hands. This compares to its five-day average volume of 8.5 million shares.
CIMB Research and DMG & Partners both upgraded their target prices for Ezion, citing re-rating catalysts from more marine logistics work for Australian projects and strong earnings growth.
At 10:26 a.m., shares of Ezion were traded at $0.735 with over 14.5 million shares changing hands. This compares to its five-day average volume of 8.5 million shares.
CIMB Research and DMG & Partners both upgraded their target prices for Ezion, citing re-rating catalysts from more marine logistics work for Australian projects and strong earnings growth.
Ezion said its joint venture with Buccaneer Energy had won a US$109.5 million ($138 million) contract to provide a jack-up rig for oil and gas activities in Alaska.
CIMB raised its target price for Ezion to $1.07 from $1.03 and kept its outperform rating, while DMG has a target price of $1.04 and a buy rating.
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