Technics Oil & Gas rated 'buy' by AmFraser

Stock Name: TechOil&Gas
Company Name: TECHNICS OIL & GAS LIMITED

Research House: AmFraser

Price Call: BUY

Target Price: 1.22

AmFraser Research in an Apr 12 research report says: "Revenue up 41% q-o-q (+42% y-o-y) to $49.8 million, with 1H revenue meeting 55% of our forecast.'' Margin rose 0.9ppt q-o-q (fell 1.2ppt y-o-y) to 37.5%, which was expected due to higher proportion of contract engineering work.

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