Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Company Name: BUMI ARMADA BERHAD
| Research House: ECMLIBRA | Price Call: BUY | Target Price: 5.10 |
Maintain BUY, TP: RM5.10
Bumi Armada was awarded a US$200m EPIC contract by Lukoil in the Caspian Sea. We view the contract award positively as it could contribute 10-12% to its total operating profit. We forecast Bumi Armada EPS to grow by a 3-year FY12-FY14 CAGR of 32%. Maintain BUY with TP of RM5.10, pegged against 27x FY12 EPS, representing +1SD of its historical PE in line with its strong growth.
No comments:
Post a Comment