Stock Name: Marco Polo
Company Name: MARCO POLO MARINE LTD.
AmFraser Research in a Jan 20 research report says: "MPM announced that it has won a $22.5 million contract to outfit a construction vessel equipped with Dynamic Positioning-3 systems.
"Early this week, MPM delivered the only posted barge rig under construction in the world. MPM also commissioned its third and largest drydock, measuring 195m x 45m x 9m capable of servicing vessels up to 45,000dwt.
"MPM is now trading at a very low PEG of 0.4, based on a forward P/E of 6.3x and a 3-year CAGR of 15.8% by our estimation.
"We continue to value MPM at 53 cents, based on a sum-of-parts valuation of its key operational segments. This is equivalent to 9.0x FY12F P/E, still undemanding for a company growing at 16% a year. MAINTAIN BUY."
Company Name: MARCO POLO MARINE LTD.
| Research House: AmFraser | Price Call: BUY | Target Price: 0.53 |
AmFraser Research in a Jan 20 research report says: "MPM announced that it has won a $22.5 million contract to outfit a construction vessel equipped with Dynamic Positioning-3 systems.
"Early this week, MPM delivered the only posted barge rig under construction in the world. MPM also commissioned its third and largest drydock, measuring 195m x 45m x 9m capable of servicing vessels up to 45,000dwt.
"MPM is now trading at a very low PEG of 0.4, based on a forward P/E of 6.3x and a 3-year CAGR of 15.8% by our estimation.
"We continue to value MPM at 53 cents, based on a sum-of-parts valuation of its key operational segments. This is equivalent to 9.0x FY12F P/E, still undemanding for a company growing at 16% a year. MAINTAIN BUY."
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