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Vard Holdings (MS7) has been showing support around 1.01 and resistance in the 1.164 price range. The technical indicator shows a buy with the 1.36 target price in six months. http://sgx.stoxline.com/quote.php?s=ms7
Excerpts from the research note MER
published on 28 May after meeting with investors and Vard’s management
on a road show in Hong Kong last week:
Order guidance of “at least” NOK12bn: Street is estimating NOK10bn-11bn of orders in 2013. MER thinks VARD is set to surprise the street.
- Approximately NOK4.5bn of orders already done
- Expecting a minimum of NOK12bn which could go up to NOK15bn
- Expecting OSCV market strength to continue
- Expecting a few customized large hybrid vessel orders
- Expecting AHTS market to bounce strongly in 2H13
- Expecting 1-4 Petrobras vessel orders to the tune of NOK1.5bn-5bn
Brazil issues are limited to 4 vessels under control by end-2013: Out of the five vessels, one was delivered last week while execution is on track for other four to be delivered on time as per the new schedule. Staff has been brought over from Romania and Norway, while some work has been outsourced. Management changes have also been done at the Brazil yard.
Competition will intensify, but Vard staying ahead in the race through investments in technology: More than the Chinese yards, Vard sees Korean and Japanese yards as a threat as they become more desperate due to lack of orders in their core markets. But MER thinks Vard is keeping ahead in the race through innovation and technology (like recent expansion in Romania and Vietnam yards to be able to build more customized and large vessels).
New owner a better fit has ambitions to grow the company: The new owner is taking active interest in growing the company, as indicated by the new investments in Romania and Vietnam. In addition, the new owner has yards in the US and Middle East, where Vard has no presence, and can now expand its reach
Action and recommendation
Investors bottom-fishing: Most investors MER met seem to appreciate that the stock looks quite attractive at current valuations and market expectations have upside risk, but seem to be bottom-fishing.
Orders will be the trigger few large ones might be announced soon: MER expects Petrobras orders and a few OSCV orders to be announced soon, which should lead to street upgrades of 2014 and 2015 profit estimates.
MER has an Outperform rating on Vard and a 12-month target price of $1.82. ...last done: $1.115...
Order guidance of “at least” NOK12bn: Street is estimating NOK10bn-11bn of orders in 2013. MER thinks VARD is set to surprise the street.
- Approximately NOK4.5bn of orders already done
- Expecting a minimum of NOK12bn which could go up to NOK15bn
- Expecting OSCV market strength to continue
- Expecting a few customized large hybrid vessel orders
- Expecting AHTS market to bounce strongly in 2H13
- Expecting 1-4 Petrobras vessel orders to the tune of NOK1.5bn-5bn
Brazil issues are limited to 4 vessels under control by end-2013: Out of the five vessels, one was delivered last week while execution is on track for other four to be delivered on time as per the new schedule. Staff has been brought over from Romania and Norway, while some work has been outsourced. Management changes have also been done at the Brazil yard.
Competition will intensify, but Vard staying ahead in the race through investments in technology: More than the Chinese yards, Vard sees Korean and Japanese yards as a threat as they become more desperate due to lack of orders in their core markets. But MER thinks Vard is keeping ahead in the race through innovation and technology (like recent expansion in Romania and Vietnam yards to be able to build more customized and large vessels).
New owner a better fit has ambitions to grow the company: The new owner is taking active interest in growing the company, as indicated by the new investments in Romania and Vietnam. In addition, the new owner has yards in the US and Middle East, where Vard has no presence, and can now expand its reach
Action and recommendation
Investors bottom-fishing: Most investors MER met seem to appreciate that the stock looks quite attractive at current valuations and market expectations have upside risk, but seem to be bottom-fishing.
Orders will be the trigger few large ones might be announced soon: MER expects Petrobras orders and a few OSCV orders to be announced soon, which should lead to street upgrades of 2014 and 2015 profit estimates.
MER has an Outperform rating on Vard and a 12-month target price of $1.82. ...last done: $1.115...
New contract wins??
Huat lia lor!!!
Wah! Investors doing last minute grabbing?
good news then the rest drop like mad only this few counter stay syrong
The buying in vol for the last 15 mins really *clap clap* :)
NA looks like market problem again
serialain ( Date: 29-May-2013 15:58) Posted:
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well looks like it got resisted and push back down again!
Looks like reaching the first resistance soon....brace yourself for impact!
TinyPotato ( Date: 29-May-2013 14:01) Posted:
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Sama sama I have lots of paper lost too...Guess artivision is the worst of all...
TinyPotato ( Date: 29-May-2013 14:16) Posted:
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You haven't miss the boat, anything below $1.22 can long but you must be able to hold. Most vested here have hang onto it since last year. Hold until Lao Ba Sai & some even lao sai . Hope this is a strong reversal and continue like Ezion :) Cheers !
luketoh ( Date: 29-May-2013 14:08) Posted:
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Is everyone's wish too! Good luck to all of us!!!
TinyPotato ( Date: 29-May-2013 14:01) Posted:
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So fast u turn...miss the boat.
sorry, typo error. $1.155 :) Looking forward for $1.55 thou . haha
TinyPotato ( Date: 29-May-2013 13:59) Posted:
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I think it will break $1.55 easily and test $1.22 (hope i'm right)
Peter_Pan ( Date: 29-May-2013 13:44) Posted:
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First resistance 1.155
Ms Gorgeous, chiong lia, go hiding again ! Enjoy your tomyum kung har???
heng I kill of my noble to buy this.... cut lost haiz. hard must hit 1.3 to break even my hyflux and noble
Those who vested - congrats
Those who haven't buy - Buy now before you miss the boat!! Weeee chiong ah