Singapore Stock Market News

Ezra Holdings - North Sea catch

StockFanatic
Publish date: Fri, 15 Mar 2013, 11:52 AM
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Ezra is making its name in the Norwegian North Sea with the recent order wins from Det norske oljeselkap and Statoil. Its current share price, which is at a six-month low, provides good buying opportunities.

No change to our EPS as the current order wins are within our expectations. Our target price is also intact, still pegged at 12x CY14 P/E (5-year mean of small/mid-cap industrials). Catalysts could come from a stronger 2H13 and more order wins. Maintain Outperform.
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