Singapore Stock Market News

Ezion Holdings - Expanding its reach

StockFanatic
Publish date: Wed, 26 Sep 2012, 10:56 AM
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Ezion Holdings is on a roll, having secured 12 contracts worth over US$1bn in 10 months. Its latest US$200m contract is the biggest to date, underscoring Ezion's growing traction with ASEAN national oil companies.

Factoring in the latest contract and perpetual securities, we lower our core EPS by 3-12%. Maintain Outperform with a higher target price, still based on blended P/E and P/BV but rolled forward to one year. Catalysts could come from more contract wins, in our view.
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