June 14, 2012

June 13, 2012

June 12, 2012

Kenanga raises Yinson's target price

Stock Name: YINSON
Research House: KENANGAPrice Call: BUYTarget Price: 2.68

Kenanga Research raised Yinson Holdings Bhd's target price to RM2.68 per share from RM2.25 after the offshore services firm and its partner PetroVietnam Technical Services Corp won a US$737.3 million marine transport contract.

"We highlight that while there are significant risks for the company taking on such a large contract, a successful completion will nonetheless boost Yinson's experience, skill-sets and track records," the broker said in a research note on Tuesday.

Kenanga said it anticipated the project will bump Yinson's earnings in the financial years 2015 and 2016 by RM16.5 million and RM27.2 million respectively, with earnings continuing to grow as interest costs are paid off.

By 10:12am (0212 GMT), Yinson's shares rose 0.47 percent to RM2.14 per share, outperforming the Malaysia's benchmark stock index's 0.24 drop. -- Reuters