Stock Name: IEV
Company Name: IEV HOLDINGS LIMITED
UOB Kay Hian in an Apr 25 research report says: "IEV has received a letter of award for a two-year contract from PT Unilever TBK to supply compressed natural gas (CNG) to its manufacturing plant in West Java, Indonesia. Pursuant to the award, PT Unilever will purchase more than 350,000 mmbtu of CNG over a two-year period. "We expect this agreement will contribute US$5.0 million (RM15.0 million) in revenue and US$1.4 million (RM4.2 million) in gross profit from April 12 to March 14, assuming 28.0% gross profit margin. "We maintain our earnings forecast as we have already factored-in an increase in CNG processing volume. Target price of $1.23 (unchanged), implying 80.9% upside from the current price. MAINTAIN BUY."
Company Name: IEV HOLDINGS LIMITED
| Research House: UOB KayHian | Price Call: BUY | Target Price: 1.23 |
UOB Kay Hian in an Apr 25 research report says: "IEV has received a letter of award for a two-year contract from PT Unilever TBK to supply compressed natural gas (CNG) to its manufacturing plant in West Java, Indonesia. Pursuant to the award, PT Unilever will purchase more than 350,000 mmbtu of CNG over a two-year period. "We expect this agreement will contribute US$5.0 million (RM15.0 million) in revenue and US$1.4 million (RM4.2 million) in gross profit from April 12 to March 14, assuming 28.0% gross profit margin. "We maintain our earnings forecast as we have already factored-in an increase in CNG processing volume. Target price of $1.23 (unchanged), implying 80.9% upside from the current price. MAINTAIN BUY."
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