Stock Name: Ezion
Company Name: EZION HOLDINGS LIMITED
Company Name: EZION HOLDINGS LIMITED
| Research House: KGI Fraser | Price Call: HOLD | Target Price: 1.12 |
SINGAPORE (March 31): KGI Fraser Securities has started coverage on Ezion Holdings with a "hold" rating and a sum-of-parts price target of $1.12.
Once seen as "resilient" as its lift boats are mainly used in shallow waters, Ezion is increasingly at risk of seeing reduced demand for its service rigs amid weaker oil prices, according to KGI analyst Joel Ng.
"Low oil prices are slowing down new oil field developments, such that the only source of demand comes from redevelopment of existing fields," he wrote in a note today.
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