Stock Name: EzionHldg
Company Name: EZION HOLDINGS LIMITED
DMG & Partners Research in a Jan 27 research report says: "Ezion announced that it has secured a US$93.5 million charter contract to deploy a service rig in North America. The value of the contract is estimated at US$93.5 million and the contract duration is for four and a half years.
'We view the latest contract win positively. Based on our preliminary estimates, assuming US$8 million net profit pa, the service rig contract could lift our FY2012-2013F EPS estimates by 3% and 9% respectively. We keep our FY2012-2013F EPS estimates unchanged pending an update with management.
"Target price of $1.00 based on 10x FY12F EPS. Ezion is our top pick in the small/mid-cap oil & gas sector given its strong EPS growth. We expect FY2012F core net profit to grow 44% y-o-y. MAINTAIN BUY. "
Company Name: EZION HOLDINGS LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 1.00 |
DMG & Partners Research in a Jan 27 research report says: "Ezion announced that it has secured a US$93.5 million charter contract to deploy a service rig in North America. The value of the contract is estimated at US$93.5 million and the contract duration is for four and a half years.
'We view the latest contract win positively. Based on our preliminary estimates, assuming US$8 million net profit pa, the service rig contract could lift our FY2012-2013F EPS estimates by 3% and 9% respectively. We keep our FY2012-2013F EPS estimates unchanged pending an update with management.
"Target price of $1.00 based on 10x FY12F EPS. Ezion is our top pick in the small/mid-cap oil & gas sector given its strong EPS growth. We expect FY2012F core net profit to grow 44% y-o-y. MAINTAIN BUY. "
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