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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