Boustead Singapore cut to "hold", target reduced to $1.88 by CIMB

Stock Name: Boustead
Company Name: BOUSTEAD SINGAPORE LIMITED

Research House: CIMB

Price Call: HOLD

Target Price: 1.88

SINGAPORE (Dec 3): CIMB has downgraded Boustead Singapore to "hold" from "add" and cut its price target from $2.06 to $1.88, based on a revised sum-of-parts valuation.

The sharp fall in oil prices over the last few months will mean fewer projects for the engineering firm's energy infrastructure division, according to CIMB analysts Roy Chen and William Tng, who cut their FY2016 earnings estimate for Boustead's energy arm by 36% to $15.2 million.

Boustead kept at 'Add' with $2.06 price target by CIMB

Stock Name: Boustead
Company Name: BOUSTEAD SINGAPORE LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 2.06

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on Boustead Singapore with an unchanged target price of $2.06.

In a report dated Nov 27 by analysts Roy Chen and William Tng, CIMB says while Boustead's energy infrastructure business heading into 2015 faces some uncertainties due to the recent plunge in oil price. Nevertheless, it continues to like the stock for its diversified business portfolio and the strong track record of its management.

Boustead Singapore lifted to 'buy' by UOB-Kay Hian with target price of $2.06

Stock Name: Boustead
Company Name: BOUSTEAD SINGAPORE LIMITED

Research House: UOB KayHian

Price Call: BUY

Target Price: 2.06

SINGAPORE (Oct 21): UOB-Kay Hian has upgraded Boustead Singapore to a "buy" with a higher target price of $2.06.

This is because the company's fundamentals remain intact despite its share price decline, says UOB-Kay Hian.

Boustead has won four additional contracts worth $157 million in the design-and-build segment that boosted its orderbook backlog to over $452 million.

The first contract is for an Airbus Asia Training Centre to be located at the Seletar Aerospace Pack while the three others are building contracts.