Stock Name: EzionHldg
Company Name: EZION HOLDINGS LIMITED
DBS Vickers Securities in a Sept 7 research report says: "Recent US$55 million contract win in Australia is significant from several aspects: (1) adds another leg of growth; (2) builds on Ezion's existing presence in Australia to make further inroads to other projects; and (3) marks Ezion's progression up the value chain on the execution of this project.
"We estimate that a significant 93%/74%/62% of our core FY2011-2013F earnings is backed by secured contracts, providing investors with solid earnings visibility.
"We have raised our core FY2011/2012F earnings forecasts by 6%/5%. Target price revised down to 92 cents, pegged to a lower 10x (prev 12x) blended FY11/12F PE. MAINTAIN BUY."
Company Name: EZION HOLDINGS LIMITED
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.92 |
DBS Vickers Securities in a Sept 7 research report says: "Recent US$55 million contract win in Australia is significant from several aspects: (1) adds another leg of growth; (2) builds on Ezion's existing presence in Australia to make further inroads to other projects; and (3) marks Ezion's progression up the value chain on the execution of this project.
"We estimate that a significant 93%/74%/62% of our core FY2011-2013F earnings is backed by secured contracts, providing investors with solid earnings visibility.
"We have raised our core FY2011/2012F earnings forecasts by 6%/5%. Target price revised down to 92 cents, pegged to a lower 10x (prev 12x) blended FY11/12F PE. MAINTAIN BUY."
No comments:
Post a Comment