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master isolator....
hammer forming for cosco.... could you explain what will be trend analysis on this ?
Isolator ( Date: 29-Mar-2011 11:00) Posted:
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It is normal to retracement down after a jump....
bullsfight ( Date: 29-Mar-2011 10:09) Posted:
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BUYING CALLS BY ALL HOUSES TODAY....
Can start to accumulate, $2.22 is not far away, in between their TP of $2.36.... Good deal man...
ozone2002 ( Date: 28-Mar-2011 22:36) Posted:
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DBS Group Research . Equity 28 Mar 2011
Biggest offshore contract
•
strong vote of confidence
Biggest offshore contract from repeat customer is a•
asset replacement cycle
Frontrunner among Chinese offshore players riding the•
closer to our S$3.16 TP.
BUY Robust order flow in 2011 to drive share priceA big leap in offshore.
LOIs for two drilling units worth US$525m each with Sevan.
Total value of US$1.05bn is the biggest single offshore
contract Cosco has secured thus far. In addition, the LOIs
provide options for up to two rigs totaling US$1.05bn. Good
flow of orders from a repeat customer is a vote of confidence
for Cosco’s offshore capability and product quality. Contracts
will be finalised with the approval of listing for Sevan’s drilling
arm to Oslo exchange by April, raising US$350m to fund the
newbuild orders.
Cosco announced that it has inkedThe start of the party.
footsteps of Singapore rigbuilders. We believe active enquiries
received since 4Q10 will translate into firm orders in months
ahead, and hence could re-rate Cosco’s share price, which
has been overshadowed by concerns on dry bulk shipping and
steel cost amidst weak market sentiment. Cosco is emerging
to be a major offshore player in China, its offshore
contribution to revenue is expected to rise from 24% in FY10
to 40% by 2012. It is tendering for offshore orders - FPSOs,
semi-sub rigs and wind turbine installation vessels - totaling
over US$3bn, which provides upside to our new order win
assumptions of US$2bn., if it succeeds in securing them.
Order flow to catalyse share price.
target price of S$3.16, based on blended FY11/12F PE and
P/BV. Catalysts in place are: (1) stronger offshore contract
flows 2) injection of strategic stakes by the parent and 3)
timely shipbuilding delivery. Key risks are steel price increase,
RMB appreciation and weaken balance sheet for balloon
payment term.
http://www.remisiers.org/cms_images/research/Mar28-Apr01/cos280311_buy_DBSV.pdf
LIM & TAN
The stock is expected to react strongly to news
that its
orders from
drilling rigs
each, ie S$1,324 mln in total, with option for two
more at the same price.
(Cosco Nantong is a subsidiary of
Cosco Shipyard (Nantong) has securedSevan Drilling for 2 ultradeepwater, valued at US$525 mlnCosco Shipyardwhich is 51% owned by Cosco Singapore, 30% by
Semb Marine
Sevan Drilling on the other hand is a subsidiary of
Oslo-listed
planning to go public in the near term, with proceeds
to fund the new orders.)
, and the balance by Cosco China.Sevan Marine. Sevan Drilling is� �
close to this size. Only
unit has done as well.
It has been a while since Cosco got orders anywhereKeppel Corp’s offshore� �
improving fortunes.
Semb Marine will likely benefit from Cosco’s� �
of its 2007 high of $7.90. That alone justifies a BUY
CIMB
Signed US$1.05bn LOI with Sevan Marine
Upgrade to Neutral from Trading Sell.
letter of intent (LOI) with Sevan Marine to construct two Sevan 650 drilling units for
US$525m each with options for two more we were originally expecting a contract
award for only one unit. Signing of the final contracts is subject to the listing of Sevan
Drilling. This order brings Cosco’s YTD order wins to US$1.29bn or 50% of our
US$2.5bn target for 2011. We believe the sizeable win will dispel investors’ fears over
potential shipbuilding order cancellations. We now peg Cosco at 15x CY12 P/E
(previously 11x, its average trading band during the last crisis) in view of its order
book momentum. This represents a 15% discount to Singapore rig builders.
Accordingly, our target price climbs to S$2.38 from S$1.74. However, with the threat
of rising steel prices, we only upgrade Cosco to Neutral. We see further re-rating
catalysts from stronger-than-expected margins in shipbuilding and order wins.
Cosco Nantong has surprised us by signing asamson ( Date: 28-Mar-2011 22:16) Posted:
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Kim Eng
Cosco Corp – Secures Sevan LOI
Previous day closing price: $2.01
Recommendation: BUY (maintained)
Target price: $2.43 (maintained)
Cosco has signed a letter of intent (LOI) with Sevan Marine for the construction of two drilling
units of the Sevan 650 rig, worth some US$1.05b. It has also secured options for two more rigs.
These contracts are part of our assumption for significant contract wins in FY11.
We are leaving our forecasts and target price of $2.43 unchanged. Trading on Cosco was
suspended after a 3% rise in price on heavy volume, prior to the announcement. We expect the
positive action on its share price to continue towards our target price on the back of this news.
Maintain BUY.
isolator sifu say sell off first and wait.... not shorting until he shout short lah.....
buy isolator coffee if we meet...... ha ha..... he is damn good .... but his direction change quite quickly....
Isolator ( Date: 28-Mar-2011 09:34) Posted:
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