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hi all! Thinking of buying into Swiber, can someone advise on what the target price is? :)
could be the.nxt.ezion.or.ezra, buy buy buy!!!
Thank you very much!
Peter_Pan ( Date: 07-Jan-2013 15:15) Posted:
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Nope.
GorgeousOng ( Date: 07-Jan-2013 14:56) Posted:
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thank you Peter
Peter_Pan ( Date: 07-Jan-2013 14:47) Posted:
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hi Peter, i have missed the boat. do you think 0.65 is too late to enter? thanks!
Peter_Pan ( Date: 07-Jan-2013 11:40) Posted:
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Hi Ann3332, likely within this week.
Ann3332 ( Date: 07-Jan-2013 14:31) Posted:
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Hi Peter, have been reading your post on Swiber, do you think can reach 0.7 within this 2 weeks, care to comment please, thank you
Peter_Pan ( Date: 07-Jan-2013 11:40) Posted:
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Don't miss the boat woh...more to come woh...
This is a gem. Don't miss the boat. Low valuation, good company, got potential, good value among it's peers. Those who want exposure to it's industry may consider picking up some to ride the coming wave. At your own risk. Gong Xi Gong Xi.
Why So Cheap ?????
Maybank starts Swiber with 'buy', target S$0.82
Maybank Kim Eng initiated its coverage of offshore services
firm Swiber Holdings Ltdwith a 'buy' rating and
S$0.82 target price, citing the stock's low valuations and
limited downside.
Swiber shares were up 4.2 percent at S$0.62 on Wednesday.
The shares have risen 16 percent so far this year versus the 23
percent gain in the FT ST Small Cap Index < .FTFSTS> .
Maybank expects Swiber's earnings per share to grow at a
compound annual growth rate of 18 percent over 2012-2014 fiscal
years, supported by the recognition of its $1.4 billion offshore
construction order book and contract win momentum.
Swiber's fleet size increased from 10 vessels in 2006 to
more than 50 currently, allowing it to handle more sophisticated
jobs, depend less on third-party vessels and have greater
flexibilities in fleet deployment, Maybank said.
The broker added that Swiber stock is a relative " laggard" ,
trading at a price-earnings ratio of 5.8 times for 2013 fiscal
year and a price-to-book of 0.6 times. But it noted there might
be an overhang from high gearing and cash needs.
1005 (0205 GMT)
(Reporting by Eveline Danubrata in Singapore Editing by
Jijo Jacob eveline.danubrata@thomsonreuters.com)
Maybank Kim Eng initiated its coverage of offshore services
firm Swiber Holdings Ltd
S$0.82 target price, citing the stock's low valuations and
limited downside.
Swiber shares were up 4.2 percent at S$0.62 on Wednesday.
The shares have risen 16 percent so far this year versus the 23
percent gain in the FT ST Small Cap Index < .FTFSTS> .
Maybank expects Swiber's earnings per share to grow at a
compound annual growth rate of 18 percent over 2012-2014 fiscal
years, supported by the recognition of its $1.4 billion offshore
construction order book and contract win momentum.
Swiber's fleet size increased from 10 vessels in 2006 to
more than 50 currently, allowing it to handle more sophisticated
jobs, depend less on third-party vessels and have greater
flexibilities in fleet deployment, Maybank said.
The broker added that Swiber stock is a relative " laggard" ,
trading at a price-earnings ratio of 5.8 times for 2013 fiscal
year and a price-to-book of 0.6 times. But it noted there might
be an overhang from high gearing and cash needs.
1005 (0205 GMT)
(Reporting by Eveline Danubrata in Singapore Editing by
Jijo Jacob eveline.danubrata@thomsonreuters.com)
Yah! So undervalued!!!
FearValueGreed ( Date: 02-Jan-2013 13:26) Posted:
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this is the future ezion.
Strong buy signal detected also!!!
This week's target for me is 0.68.
Don't miss the boat woh...
Swiber could be due for a re-rating given its growing orderbook traction.
Early success shown in strong order wins. We have seen early successes from strong contract wins this year. Net orderbook reached a historical high of USD1.6b in 2Q12 although it has come down slightly to USD1.4b in 3Q12. 2012 has been a bountiful year for Swiber in terms of order wins, with YTD contracts secured in excess of USD1.7b, significantly higher than the USD733m secured for the preceding year. Importantly, management expects the bidding environment in 2013 to be even better than 2012. Majority of the current outstanding orderbook should be recognised within the next 2 years.
Contract wins and execution will be positive catalysts. Indications that would support our prognosis on Swiber’s prospect would first come in the form of more contract wins in 2013. Secondly, we also expect improvements in margins, which would signal that Swiber is indeed reaping greater efficiencies from the benefits of a bigger owned-fleet. These are two key signs which we believe would trigger positive stock price response.
Limited downside at current valuations, initiate with BUY. Swiber is trading at FY13F PER of only 5.8x, below its mean forward PER of 10.8x and below Singapore-listed small caps O& M peer average of 8.0x. Additionally, it is also trading at only 0.6x P/B. We see earnings growing at a CAGR of 18% for FY12-14F, from a strong string of contract wins. While concerns on gearing and funding could be overhangs, we see limited downside at current low valuations. Initiate with BUY and target price of SGD0.82, pegged at 8x peer average PER. Valuations is also supported by our RNAV valuation of its assets which yields a value of SGD1.11 per share.
Swiber to benefit from growth in Asia-Pacific region. While onshore spending would account for the largest share of total capex, offshore capex growth is expected to outpace that of onshore capex. As evident in the following chart, the Asia-Pacific region is a key source of growth for offshore spending, and is a key contributor to global offshore capex growth. The Middle East is also expected to be the main growth region in terms of total spending. Swiber’s existing presences in these regions place it in a strong position to benefit from this growth.
Sector consolidation, Swiber a potential M& A target. The industry has seen several consolidations in recent years, the more prominent being that between Subsea 7 and Acergy, Technip and Global Industries, and SapuraCrest and Kencana. The potential of Swiber being acquired or merging with another player to enhance each other’s competitiveness is entirely plausible. With its below-book valuations and funding needs, we think that Swiber makes a good case as a potential M& A target.
Maybank Kim Eng
Early success shown in strong order wins. We have seen early successes from strong contract wins this year. Net orderbook reached a historical high of USD1.6b in 2Q12 although it has come down slightly to USD1.4b in 3Q12. 2012 has been a bountiful year for Swiber in terms of order wins, with YTD contracts secured in excess of USD1.7b, significantly higher than the USD733m secured for the preceding year. Importantly, management expects the bidding environment in 2013 to be even better than 2012. Majority of the current outstanding orderbook should be recognised within the next 2 years.
Contract wins and execution will be positive catalysts. Indications that would support our prognosis on Swiber’s prospect would first come in the form of more contract wins in 2013. Secondly, we also expect improvements in margins, which would signal that Swiber is indeed reaping greater efficiencies from the benefits of a bigger owned-fleet. These are two key signs which we believe would trigger positive stock price response.
Limited downside at current valuations, initiate with BUY. Swiber is trading at FY13F PER of only 5.8x, below its mean forward PER of 10.8x and below Singapore-listed small caps O& M peer average of 8.0x. Additionally, it is also trading at only 0.6x P/B. We see earnings growing at a CAGR of 18% for FY12-14F, from a strong string of contract wins. While concerns on gearing and funding could be overhangs, we see limited downside at current low valuations. Initiate with BUY and target price of SGD0.82, pegged at 8x peer average PER. Valuations is also supported by our RNAV valuation of its assets which yields a value of SGD1.11 per share.
Swiber to benefit from growth in Asia-Pacific region. While onshore spending would account for the largest share of total capex, offshore capex growth is expected to outpace that of onshore capex. As evident in the following chart, the Asia-Pacific region is a key source of growth for offshore spending, and is a key contributor to global offshore capex growth. The Middle East is also expected to be the main growth region in terms of total spending. Swiber’s existing presences in these regions place it in a strong position to benefit from this growth.
Sector consolidation, Swiber a potential M& A target. The industry has seen several consolidations in recent years, the more prominent being that between Subsea 7 and Acergy, Technip and Global Industries, and SapuraCrest and Kencana. The potential of Swiber being acquired or merging with another player to enhance each other’s competitiveness is entirely plausible. With its below-book valuations and funding needs, we think that Swiber makes a good case as a potential M& A target.
Maybank Kim Eng
Maybank starts Swiber with 'buy', target S$0.82
1 cent dividend. Low valuation. Can accumulate. Just a suggestion, dyodd.