Stock Name: STXOSV
Company Name: STX OSV HOLDINGS LIMITED
The brokerage said it expects STX OSV to win orders worth 10 billion Norwegian crowns in 2012 and 12 billion Norwegian crowns in 2013.
Company Name: STX OSV HOLDINGS LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 1.85 |
CIMB Research cut its share-price target for Singapore-listed shipbuilder STX OSV (STXO.SI) to $1.85 from $1.89, but kept its “outperform” rating.
CIMB cut its earnings estimates for STX for 2012-2013 by 2-10% as it lowered its expectations for the firm’s orders by 20-23%, citing worries of a liquidity crunch in the global financial system.
CIMB cut its earnings estimates for STX for 2012-2013 by 2-10% as it lowered its expectations for the firm’s orders by 20-23%, citing worries of a liquidity crunch in the global financial system.
The brokerage said it expects STX OSV to win orders worth 10 billion Norwegian crowns in 2012 and 12 billion Norwegian crowns in 2013.
However, CIMB expects STX OSV to see minimal order cancellations, given its quality clientele and track record of having no order cancellations so far.
At 9:29 a.m., shares of STX OSV were 5.3% lower at $1.165. They have gained 1.8% since the start of the year.
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