Stock Name: YINSON
Company Name: YINSON HOLDINGS BHD
Initiate coverage with a Buy and RM2.20 target price. Yinson offers a niche exposure to the nascent Vietnamese O&G sector without the Dong currency risk. With a projected 3-year net profit CAGR of 32%, Yinson provides strong earnings visibility with inexpensive valuations (7.0x PER, 1.0x PBV, 0.4x PEG for FY14). Clinching another rewarding floating solution contract will be the next major re-rating catalyst.
Maybank Research 21 March 2012
Click here for full report
Company Name: YINSON HOLDINGS BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 2.20 |
Initiate coverage with a Buy and RM2.20 target price. Yinson offers a niche exposure to the nascent Vietnamese O&G sector without the Dong currency risk. With a projected 3-year net profit CAGR of 32%, Yinson provides strong earnings visibility with inexpensive valuations (7.0x PER, 1.0x PBV, 0.4x PEG for FY14). Clinching another rewarding floating solution contract will be the next major re-rating catalyst.
Maybank Research 21 March 2012
Click here for full report
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