Singapore Stock Market News
Offshore & Marine - Tide is turning
StockFanatic
Publish date: Mon, 19 Mar 2012, 12:08 PM
StockFanatic
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We see shoots of recovery for the offshore support vessel (OSV) sector as it emerges from oversupply. An influx of rigs is expected to intensify demand for OSVs. That said, the road to recovery may not be smooth, with variable positivity expected across regions and vessel classes.
Maintain Overweight. Valuations are undemanding as the sector is trading 8x forward P/E. Ezion is our top pick. We also raise our target price for STX OSV. Otherwise, all our stock ratings, earnings forecasts and target prices are intact.
OSV supply tightens
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