Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Initiating coverage with a Buy and RM4.88 target price. Bumi Armada (BA) offers a niche exposure to the Floating Production, Storage and Offloading (FPSO) market. As one of the fastest growing FPSO operators in the world, it has set its sights on being the Top 4 player in terms of FPSO fleet size by 2013. It is also poised to gain traction in Malaysia's O&G sector, as it leverages on PETRONAS' capex programme. BA, which is steadfastly building up franchise values, is a steady growth stock with a 3-year net profit CAGR of 25%.
Maybank Research 6 March 2012
Click here for full report
Company Name: BUMI ARMADA BERHAD
| Research House: MAYBANK | Price Call: BUY | Target Price: 4.88 |
Initiating coverage with a Buy and RM4.88 target price. Bumi Armada (BA) offers a niche exposure to the Floating Production, Storage and Offloading (FPSO) market. As one of the fastest growing FPSO operators in the world, it has set its sights on being the Top 4 player in terms of FPSO fleet size by 2013. It is also poised to gain traction in Malaysia's O&G sector, as it leverages on PETRONAS' capex programme. BA, which is steadfastly building up franchise values, is a steady growth stock with a 3-year net profit CAGR of 25%.
Maybank Research 6 March 2012
Click here for full report
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