Tuesday, June 18, 2013

PhillipCapital starts Ezra Holdings at Neutral

Stock Name: Ezra
Company Name: EZRA HOLDINGS LIMITED
Research House: Phillip SecuritiesPrice Call: HOLDTarget Price: 1.00



PhillipCapital starts Ezra Holdings (5DN.SG) at Neutral with a $1.00 target. The house believes the stock is well-positioned to benefit from the upbeat subsea market, especially after its acquisition of AMC in 2011.

By the house's calculations, every US$100 million ($126 million) increase in new subsea order win should add $0.04-$0.05/share; year-to-date the company has received US$832 million worth of new orders.

Phillip tips that downside risks for the stock include a prolonged decline in oil prices, while a prolonged increase in oil prices would be an upside risk. Shares are up 1.1% at $0.95.
 

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