Triyards started at "buy", 98-cent target by Phillip Capital

Stock Name: Triyards
Company Name: TRIYARDS HOLDINGS LIMITED

Research House: Phillip Securities

Price Call: BUY

Target Price: 0.98

SINGAPORE (Dec 1): Phillip Capital has initiated coverage on Triyards Holdings with a "buy" rating and a price target of 98 cents, based on seven times projected earnings.

Demand for the company's self-elevating units (SEUs) and other offshore support vessels will remain intact despite weaker oil prices, according to Phillip Capital analyst Bakhteyar Osama.