Stock Name: ARMADA
Company Name: BUMI ARMADA BERHAD
Maintain Buy and RM4.88 target price. Bumi Armada is said to have secured an underwater pipelay contract in Russia. While management has yet to confirm this, we anticipate a marginal 1% enhancement to 2014 earnings. Overall, we are marginally positive on this newsflow and it ties in with our expectation of the prospect of what the Caspian region can offer. Our unchanged RM4.88 TP is based on sum-of-parts (SOP) valuations.
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Source: Maybank Research - 13 April 2012
Company Name: BUMI ARMADA BERHAD
| Research House: MAYBANK | Price Call: BUY | Target Price: 4.88 |
Maintain Buy and RM4.88 target price. Bumi Armada is said to have secured an underwater pipelay contract in Russia. While management has yet to confirm this, we anticipate a marginal 1% enhancement to 2014 earnings. Overall, we are marginally positive on this newsflow and it ties in with our expectation of the prospect of what the Caspian region can offer. Our unchanged RM4.88 TP is based on sum-of-parts (SOP) valuations.
Click here for full report
Source: Maybank Research - 13 April 2012
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