Stock Name: STXOSV
Company Name: STX OSV HOLDINGS LIMITED
JPMorgan, which has a target price of $2.00 on the firm, said that STX OSV stands to benefit if oil and gas services firms start placing more orders for offshore support vessels.
Company Name: STX OSV HOLDINGS LIMITED
| Research House: JP Morgan Chase | Price Call: BUY | Target Price: 2.00 |
Shares of STX OSV (STXO.SI) rose as much as 7.7% on Tuesday after JPMorgan initiated coverage of the firm with an overweight rating and said it expects STX OSV to benefit from the industry’s next leg of capacity expansion, traders said.
At 9:58 a.m., shares of STX OSV were 5.4% higher at $1.37 with over 12.7 million shares changing hands.
At 9:58 a.m., shares of STX OSV were 5.4% higher at $1.37 with over 12.7 million shares changing hands.
JPMorgan, which has a target price of $2.00 on the firm, said that STX OSV stands to benefit if oil and gas services firms start placing more orders for offshore support vessels.
STX OSV’s valuations are attractive, given that it is trading at a steep discount of 6.9 times its estimated 2011 price-earnings ratio, compared to about 14-16 times for its Singapore peers, JPMorgan said.
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