Singapore Stock Market News

IPS Securex Holdings - Fire Away!

StockFanatic
Publish date: Thu, 30 Apr 2015, 09:42 AM
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Pic Credits : Pepperball.com
IPS Securex has received a letter of intent for the supply of Pepperball products worth USD55m - which greatly exceeds our estimate of USD25m-30m to a South-East Asian government body over two years, starting July. Maintain BUY, with a higher TP of SGD1.01 (from SGD0.63, 7x FY16P/E, 84% upside). Still, as revenue recognition for this contract will only start from FY16 (Jun) onwards, we raise our FY16F NPAT by 91% - which also results in a TP uplift.
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