Stock Name: Swing Media
Company Name: SWING MEDIA TECHNOLOGY GRP LTD
DMG & Partners Securities in a Nov 2 research report says: "Swing Media announced that it had formally entered into contract with PetroChina in carrying out turn-key solar panels installations for 100 of its petrol stations.
"Commencing from 2H FY12, this will contribute positively to the group's FY2012 and FY2013 earnings. The upcoming $9.3 million placement will provide Swing Media with the necessary working capital for the project, allowing it to tap on the booming Chinese solar market.
"Given (1) falling solar-panel prices and (2) increasing domestic demand, we believe the new business will provide a kicker to its earnings. Unchanged target price of 23 cents based on 0.5x industry average P/B. BUY"
Company Name: SWING MEDIA TECHNOLOGY GRP LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.23 |
DMG & Partners Securities in a Nov 2 research report says: "Swing Media announced that it had formally entered into contract with PetroChina in carrying out turn-key solar panels installations for 100 of its petrol stations.
"Commencing from 2H FY12, this will contribute positively to the group's FY2012 and FY2013 earnings. The upcoming $9.3 million placement will provide Swing Media with the necessary working capital for the project, allowing it to tap on the booming Chinese solar market.
"Given (1) falling solar-panel prices and (2) increasing domestic demand, we believe the new business will provide a kicker to its earnings. Unchanged target price of 23 cents based on 0.5x industry average P/B. BUY"
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