Stock Name: Marco Polo
Company Name: MARCO POLO MARINE LTD.
AmFraser Research in a July 8 research report says: "MPM announced that (i) it had won a contract for five barges worth $10 million for a third party customer.
"Wednesday, it updated with more pieces of good news: (ii) MPM had submitted to the Taiwan Stock Exchange (TSE) and the Taiwan Central Bank its applications to offer and to list TDRs; and (iii) its first-ever mention of a formal dividend policy.
"One near-term catalyst would be the successful TDR-listing that would boost book value significantly and reduce net gearing by a third. Long-term drivers include strong shipyard (building and repair) profits, contributions from the 49% stake in BBR, and continued growth in the higher-margin segment offshore division. We leave our target price unchanged at 50.5 cents, an 18.8% upside to today's close.
Company Name: MARCO POLO MARINE LTD.
| Research House: AmFraser | Price Call: BUY | Target Price: 0.505 |
AmFraser Research in a July 8 research report says: "MPM announced that (i) it had won a contract for five barges worth $10 million for a third party customer.
"Wednesday, it updated with more pieces of good news: (ii) MPM had submitted to the Taiwan Stock Exchange (TSE) and the Taiwan Central Bank its applications to offer and to list TDRs; and (iii) its first-ever mention of a formal dividend policy.
"One near-term catalyst would be the successful TDR-listing that would boost book value significantly and reduce net gearing by a third. Long-term drivers include strong shipyard (building and repair) profits, contributions from the 49% stake in BBR, and continued growth in the higher-margin segment offshore division. We leave our target price unchanged at 50.5 cents, an 18.8% upside to today's close.
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