Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
Research House: CIMB
KUALA LUMPUR: CIMB Equities Research has initiated coverage of Perisai Petroleum Bhd with a BUY call and a target price of 80 sen, which implies 38% potential upside.
It said on Tuesday, March 8 its target price is pegged to its target market P/E of 14.5 times. The potential re-rating catalysts are a growing fleet of strategic assets, and success in new markets.
'We like Perisai for several reasons. This under-researched stock is underappreciated; the company is set to benefit from opportunities in the deepwater transport & installation segment while a skilled new management is firmly in place and is backed by Ezra's operational strength,' it said.
CIMB Research said gone are the days of corrosion control and earnings volatility as the company is now streamlined with a focus on vessel chartering.
'Our initiation is timely given Perisai's recent clinching of a Petronas licence and ongoing acquisition of a vessel operator,' it said.
Company Name: PERISAI PETROLEUM TEKNOLOGI
Research House: CIMB
KUALA LUMPUR: CIMB Equities Research has initiated coverage of Perisai Petroleum Bhd with a BUY call and a target price of 80 sen, which implies 38% potential upside.
It said on Tuesday, March 8 its target price is pegged to its target market P/E of 14.5 times. The potential re-rating catalysts are a growing fleet of strategic assets, and success in new markets.
'We like Perisai for several reasons. This under-researched stock is underappreciated; the company is set to benefit from opportunities in the deepwater transport & installation segment while a skilled new management is firmly in place and is backed by Ezra's operational strength,' it said.
CIMB Research said gone are the days of corrosion control and earnings volatility as the company is now streamlined with a focus on vessel chartering.
'Our initiation is timely given Perisai's recent clinching of a Petronas licence and ongoing acquisition of a vessel operator,' it said.
with 2 prominant major shareholders and a MD who used to helm the highly successful SapuraCrest, the company's outlook is indeed interestst. Watch for its share price movement.
ReplyDeleteAgreed as the MD was granted by the major shareholder Ezra an option to buy 1/2 of the latter's stake within 2 years at Ezra's entry cost. There must be the possibilities that MD is extremely capable to bring the company to much greater heights to secure such a carrot.
ReplyDeleteI won't be surprised if the share price can climb above RM1.00 given that it should be well supported by Ezra Holdings which is regional giant in the industry. We should look at the share price appreciation of Ezra from its own IPO price until today. This can be easily found in Ezra website. :-)
ReplyDeleteHahaha Even a US giant fund Legg Mason, Inc has bought a 5% stake in this company on March 23, 2011. Its outlook must be bright, right.....? Let's see :-)
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