Triyards Holdings coverage started at "buy", 77-cent target by RHB

Stock Name: Triyards
Company Name: TRIYARDS HOLDINGS LIMITED

Research House: RHB

Price Call: BUY

Target Price: 0.77

SINGAPORE (April 8): RHB Securities Singapore has started coverage on Triyards Holdings with a "buy" rating and price target of 77 cents, based on six times projected FY2015 earnings.

The shipbuilder's net order book of US$380 million offers 15 months of earnings visibility. This could increase by US$150 million in June, under an investment agreement with Ezion Holdings, RHB analysts Jesalyn Wong and Lee Yue Jer wrote in a note today.