Tuesday, January 20, 2015

Pacific Radiance target cut 36% to $1 by UOB Kay Hian

Stock Name: Pacific Radiance
Company Name: PACIFIC RADIANCE LTD.
Research House: UOB KayHianPrice Call: BUYTarget Price: 1.00



SINGAPORE (Jan 20): UOB Kay Hian has cut its price target for Pacific Radiance from $1.57 to $1, based on seven times projected FY2016 earnings, after lowering its FY2014 to FY2016 earnings estimates by 8%, 13% and 20% respectively to factor in reduced demand for the company's diving support vessels and weaker charter rates.

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