Singapore Stock Market News

Ezion Holdings - Regardless of oil

StockFanatic
Publish date: Wed, 21 Jan 2015, 11:41 AM
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Top conviction BUY in sector. Improving FCF & earnings stability in FY15 not contingent on oil prices.

■ Liftboats may expand into other offshore jobs. Contract wins near-term catalysts.

Higher SGD/USD mitigates our 1-4% cut to FY14E-16E EPS for contract timing adjustments. This results in an unchanged TP of SGD1.93, still at 9x FY15E P/E.
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