Stock Name: Mermaid
Company Name: MERMAID MARITIME PUBLIC CO LTD
Company Name: MERMAID MARITIME PUBLIC CO LTD
| Research House: CIMB | Price Call: BUY | Target Price: 0.44 |
Target S$0.44
Positive feedback from large offshore construction companies spells brighter prospects for Mermaid's subsea arm. Strengthened by a new management team, we expect Mermaid to be back in the black, following two years of losses. Maintain Outperform. No changes to our EPS estimates or target price, still at 0.7x CY12 P/BV (3-year mean). Contract awards of its jack-ups and a stronger 2H could catalyse its share price, we believe.
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