Bursa Malaysia Stock Watch
Tanjung Offshore RM0.85: Buy
kltrader
Publish date: Thu, 17 Nov 2011, 03:42 PM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Validated; results getting closer in line
Maintain Buy-awaiting catalyst. TOFF's 3Q11 results validate ourRM1.4m net loss forecast for 2011. Cost management remains aproblem with earnings derived mainly from vessels supporting its otherloss-making segments, which caps earnings potential. Still, we look forcatalyst from its new PSVs and a resolution to losses at Citech. At thisjuncture, TOFF trades at historical trough P/BV valuations, unwarrantedby its improving outlook over a 24-month period. Reiterate Buy call withan unchanged target price of RM0.98, based on 0.8x book.
Maybank research (17 November 2011)
Click here for full report ''
Maintain Buy-awaiting catalyst. TOFF's 3Q11 results validate ourRM1.4m net loss forecast for 2011. Cost management remains aproblem with earnings derived mainly from vessels supporting its otherloss-making segments, which caps earnings potential. Still, we look forcatalyst from its new PSVs and a resolution to losses at Citech. At thisjuncture, TOFF trades at historical trough P/BV valuations, unwarrantedby its improving outlook over a 24-month period. Reiterate Buy call withan unchanged target price of RM0.98, based on 0.8x book.
Maybank research (17 November 2011)
Click here for full report ''
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