Bursa Malaysia Stock Watch

ARMADA - Secures US$200m contract

kltrader
Publish date: Tue, 17 Apr 2012, 09:40 AM
kltrader
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Bumi Armada; Buy; RM4.45
Price Target: RM5.20 (Prev: RM5.00); BAB MK

Secures US$200m pipe-laying contract in Caspian Sea from Lukoil; raised FY12-14F profit by 5-7%. RM7.5bn order book gives clear earnings visibility. Maintain BUY rating; TP nudged up to RM5.20.

Source: HwangDBS Research - 17 April 2012
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