Stock Name: Ezra
Company Name: EZRA HOLDINGS LIMITED
CIMB expects the order book for Ezra’s subsea business to exceed $1 billion by the fiscal second quarter ending February, and raised its estimates for order wins this year to US$800 million from US$600 million ($753.5 million) previously.
Company Name: EZRA HOLDINGS LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 1.40 |
CIMB Research upgraded Singapore oil and gas services firm Ezra Holdings to outperform from underperform and raised its target price to $1.40 from $0.87.
By 10:43 a.m., shares of Ezra were 0.85% higher at $1.18, after surging more than 40% so far this year.
By 10:43 a.m., shares of Ezra were 0.85% higher at $1.18, after surging more than 40% so far this year.
CIMB expects the order book for Ezra’s subsea business to exceed $1 billion by the fiscal second quarter ending February, and raised its estimates for order wins this year to US$800 million from US$600 million ($753.5 million) previously.
The brokerage raised its earnings per share estimates for Ezra by 1-7% for fiscal 2012-2014, to account for higher subsea order wins.
With a brighter outlook, CIMB now expects Ezra’s subsea division to see a turnaround and achieve a net profit of about US$8 million this fiscal year versus a net loss in the first quarter.
No comments:
Post a Comment