Stock Name: STXOSV
Company Name: STX OSV HOLDINGS LIMITED
CIMB in a Nov 2 research report says: "Fears over the impact of tighter credit on STX OSV's order intake are valid, although we believe STX OSV's current order book is intact and cancellations risks are low.
"STX OSV is not directly dependent on funding from export. Rather, a handful of its clients rely on export to finance their vessel purchases. We believe STX OSV's order book of NOK14.2 billion is intact. We are comforted by STX OSV's track record of no order cancellations in the past 10 years.
"Target price of $1.39, based on 9x CY13 P/E. MAINTAIN OUTPERFORM."
Company Name: STX OSV HOLDINGS LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 1.39 |
CIMB in a Nov 2 research report says: "Fears over the impact of tighter credit on STX OSV's order intake are valid, although we believe STX OSV's current order book is intact and cancellations risks are low.
"STX OSV is not directly dependent on funding from export. Rather, a handful of its clients rely on export to finance their vessel purchases. We believe STX OSV's order book of NOK14.2 billion is intact. We are comforted by STX OSV's track record of no order cancellations in the past 10 years.
"Target price of $1.39, based on 9x CY13 P/E. MAINTAIN OUTPERFORM."
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