Singapore Stock Market News
Ezra Holdings - 2Q13 preview: muted subsea
StockFanatic
Publish date: Thu, 11 Apr 2013, 03:43 PM
StockFanatic
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We expect Ezra's 2Q13 results to remain weak as subsea activities in
the North Sea could be affected by poor weather conditions from
Dec-Feb. We have slashed our EPS by 24-38% for FY13-15 on lower
subsea margin as it could take longer to beef up this new segment.
Downgrade to Underperform from
Outperform with a lower target price
of S$0.90, based on 10x CY14 P/E, -1
s.d. below its 5-year mean (previously
12x on small/mid-cap industrials'
5-year mean). Its share price could be
weighed down by a weak 2Q13.
Read more » Related Stocks
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