Initiate coverage with a Buy and RM1.13 target price. Perisai, with its financial muscle, is strongly tipped to enter the rewarding floating solutions market with Ezra as its strategic partner. This is a major catalyst and would provide greater earnings visibility, making it a growth stock with inexpensive valuations at 1-2x EV/EBITDA and single-digit prospective earnings. Our 11x 2013 PER target is consistent with the average for peers with a market cap of below RM1b.
Maybank Research - 28 March 2012
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kong73
a solid company with good growth this year.
2012-04-09 16:37