Stock Name: Vard
Company Name: VARD HOLDINGS LIMITED
Company Name: VARD HOLDINGS LIMITED
| Research House: RHB | Price Call: HOLD | Target Price: 0.52 |
SINGAPORE (Mar 17): RHB maintaining its 'neutral' call on Vard Holdings and lowering its target price to $0.5 from $0.52, citing that the shipbuilder will still recognise zero-margin even if it could successfully sell off its two vessels.
Vard recently terminated two platform supply vessels (PSVs) for E.R. Offshore's affiliates after the latter filed for bankruptcy.
The two PSVs probably are worth NOK1 to 1.2 billion, which makes up about 6% of Vard's orderbook.
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