Bumi Armada; Buy; RM3.79
Price Target: RM4.50 (Prev RM3.30); BAB MK
Long-awaited contract win
Significant North Sea FPSO win to leapfrog BAB to top league of FPSO players. Strong FPSO bid pipeline underpins growth prospects; raised FY14/15F earnings by 24%/34%. Upgrade to BUY, TP lifted to RM4.50 TP.
Source: HwangDBS Research - 18 Nov 2013
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ARMADACreated by kltrader | Jan 03, 2023
Created by kltrader | Sep 30, 2022