Stock Name: STXOSV
Company Name: STX OSV HOLDINGS LIMITED
In the near term, orders for STX OSV are likely to be hit by macro economic uncertainties, DBS said, but noted that STX’s fundamentals remain firm despite the recent sell-down in its shares.
Company Name: STX OSV HOLDINGS LIMITED
| Research House: DBS Vickers | Price Call: BUY | Target Price: 1.54 |
DBS Vickers has cut its target price for Singapore-listed offshore ship builder STX OSV (STXO.SI) to $1.54 from $1.90 but kept its buy rating.
DBS has cut its estimate for 2011-2013 order wins for STX OSV by 17-19%, and lowered its earnings estimates for 2012 by 4% and by 10% the following year.
DBS has cut its estimate for 2011-2013 order wins for STX OSV by 17-19%, and lowered its earnings estimates for 2012 by 4% and by 10% the following year.
In the near term, orders for STX OSV are likely to be hit by macro economic uncertainties, DBS said, but noted that STX’s fundamentals remain firm despite the recent sell-down in its shares.
“The fundamentals for STX OSV Holdings remain intact despite the recent sell-down. STX OSV is well positioned to leverage on the newbuild cycle,” said DBS in a report.
At 10:23 a.m., shares of STX OSV were 1.24% lower at $1.195 but have gained about 4.8% since the start of the year.
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