Singapore Stock Market News
ASL Marine - Quick off the mark
StockFanatic
Publish date: Wed, 14 Nov 2012, 10:18 AM
StockFanatic
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
ASL Marine delivered a sterling 1Q as all its three business arms performed
well. We expect ASL to continue making strides as higher-value
shipbuilding projects are recognised in subsequent quarters. Quarterly
earnings momentum and strong orders could catalyse the stock.
At 37% of our FY12 forecast, 1Q core
earnings were 48% above our
expectations while reported earnings
formed 23% of Bloomberg consensus.
However, we retain our estimates as
we are only in 1Q. We reiterate our
Outperform call and raise our target
price as we roll it forward to 0.9x
CY14 P/BV, its 5-year mean.
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