Post Reply
41-60 of 94
i believe many are holding on to the shares after the split announcement.
already broke even, hope next week better results.
my regrets, not knowing the split announcement earlier
quote=weemeer;10977]Labroy Marine - Positioning For the Future...source Kim Eng
Potential for more orders
Enquiries for more offshore vessels remain strong. Potential new orders could arise from the option attached to the recent S$567m (?284m) order for two Heavy Lift Jack Up (HLJU) vessels from Norwegian operator Master Marine, slated for delivery by 2010. The option is for two more vessels,
exercisable over the next six to 18 months ? which are not in our
estimates. The exercise price will depend on prevailing market conditions.
Still some upside
With only a free float of ,32mil..Bengkuang 1 for 3 stocksplit will be easier to push once EGM date draws nearer...proposal was made in Aug 6
Labroy's valuation still looks attractive as the stock currently trades at
PE multiples of 13.9x for FY08 and 12.9x for FY09. Labroy is trading at a
considerable discount to its comparables and is valued at the low end of
its historical trading range (low of 8x, median of 14x, and peak of 22x).
We believe that Labroy should trade at a minimum 17x FY08 PE (on a blended
PE basis), which translates to a target price of S$3.22. Reiterate BUY.
[/quote]
With only a free float of ,32mil..Bengkuang 1 for 3 stocksplit will be easier to push once EGM date draws nearer...proposal was made in Aug 6
Potential for more orders
Enquiries for more offshore vessels remain strong. Potential new orders could arise from the option attached to the recent S$567m (?284m) order for two Heavy Lift Jack Up (HLJU) vessels from Norwegian operator Master Marine, slated for delivery by 2010. The option is for two more vessels,
exercisable over the next six to 18 months ? which are not in our
estimates. The exercise price will depend on prevailing market conditions.
Still some upside
With only a free float of ,32mil..Bengkuang 1 for 3 stocksplit will be easier to push once EGM date draws nearer...proposal was made in Aug 6
Labroy's valuation still looks attractive as the stock currently trades at
PE multiples of 13.9x for FY08 and 12.9x for FY09. Labroy is trading at a
considerable discount to its comparables and is valued at the low end of
its historical trading range (low of 8x, median of 14x, and peak of 22x).
We believe that Labroy should trade at a minimum 17x FY08 PE (on a blended
PE basis), which translates to a target price of S$3.22. Reiterate BUY.
[/quote]
With only a free float of ,32mil..Bengkuang 1 for 3 stocksplit will be easier to push once EGM date draws nearer...proposal was made in Aug 6
| SINGAPORE, Oct 11 (Reuters) - Shares of shipbuilder and oil-rig maker Labroy Marine (LABR.SI: Quote, Profile , Research) rose as much as 5.2 percent to S$2.65 with 4.4 million shares traded after Morgan Stanley started coverage of the stock with an "overweight" rating. The stock, which was trading at a 2-½ month high, was also the top percentage gainer among the counters on the Straits Times Index <.STI>. Morgan Stanley analyst Praveen K Choudhary, who set a price target of S$3.40 for Labroy shares, said in a note that robust demand for oil rigs due to expected high oil prices would drive contract wins and higher margins for Labroy. He said Labroy had more attractive valuations than Keppel Corp (KPLM.SI: Quote, ProfileResearch) and SembCorp Marine (SCMN.SI: Quote, Profile , Research), the world's top two offshore oil-rig makers. , |
|
Rate This Post:  Good Post  Bad Post |
|
| ygc91285 Member |
Posted: 11-Oct-2007 09:31 |
| x 0 x 0 * Alert Admin |
Stocks and factors to watch: - Morgan Stanley has started coverage of shipbuilder and oil-rig maker Labroy Marine (LABR.SI: Quote, Profile , Research) with an "overweight" rating and a target price of S$3.40, citing robust global oil-rig demand as potential upside catalyst for its shares. [ID:nSGC001123] - Macquarie Research has raised its price target for SembCorp Marine (SCMN.SI: Quote, Profile , Research), the world's second-largest builder of offshore oil drilling rigs, to S$6.60 from S$4.65, citing expectations of an increase in the firm's capacity. [ID:nSGC001124] |