Stock Name: Swiber
Company Name: SWIBER HOLDINGS LIMITED
CIMB in a Feb 6 research report says: "Swiber announced US$216 million worth of construction contracts from Myanmar, Indonesia and Brunei. Its JV in Middle East, Rawabi has also secured US$38 million chartering contracts from Saudi Aramco.
"We upgrade our order target for 2012 to US$400 million (from US$300 million) to reflect the strong order momentum thus far. We expect Swiber to clinch more orders from India and Southeast Asia. Order book remains at about US$1 billion. We upgrade our EPS by 9-14% for FY2012-2013 to reflect recent stronger-than-expected wins.
"Our target price is lifted to 94 cents from 90 cents to, still based on 0.9x P/BV. It is trading at 6x CY13 P/E, and 0.6x P/BV, making it one of the cheapest O&M mid-cap stocks. OUTPERFORM."
Company Name: SWIBER HOLDINGS LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 0.94 |
CIMB in a Feb 6 research report says: "Swiber announced US$216 million worth of construction contracts from Myanmar, Indonesia and Brunei. Its JV in Middle East, Rawabi has also secured US$38 million chartering contracts from Saudi Aramco.
"We upgrade our order target for 2012 to US$400 million (from US$300 million) to reflect the strong order momentum thus far. We expect Swiber to clinch more orders from India and Southeast Asia. Order book remains at about US$1 billion. We upgrade our EPS by 9-14% for FY2012-2013 to reflect recent stronger-than-expected wins.
"Our target price is lifted to 94 cents from 90 cents to, still based on 0.9x P/BV. It is trading at 6x CY13 P/E, and 0.6x P/BV, making it one of the cheapest O&M mid-cap stocks. OUTPERFORM."
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