2bz4money
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Bumi Armada still making waves, extends gains
Bumi Armada still making waves, extends gains
Written by Surin Murugiah of theedgemalaysia.com
Friday, 22 July 2011 10:50
KUALA LUMPUR: Oil and gas services provider Bumi Armada continued to be actively traded on Friday, July 22 after it made an impressive debut on the Main Market of Bursa Malaysia on Thursday.
At 10.50am, Bumi Armada was up five sen to RM4.19 with 31.26 million shares done.
ECM Libra Research on July 21 had initiated coverage on Bumi Armada with a BUY call and a TP of RM3.91, based on a 25x PE pegging 2H11-1H12 EPS of 15.6sen.
“We view that Bumi Armada can easily achieve a 2010-2013 CAGR of 22% given their strong RM5.8 billion orderbook and also active tendering activity in the FPSO market.
“Major contracts are all for the long term (5-8 years) hence providing the group with good earnings visibility,” it said.
Bahtera Bumi Armada ni nampak gayanya akan boleh touch RM4.5 hari ni, dibantu dgn Dow naik 1.2%, Europe dan regional bourses pun stable..Bolehla tumpang naik bila ada aktiviti pengambilan untung pagi ni..Jgn lupa turun kapal bla dh smpai target dah le...
Bumi Armada still making waves, extends gains
Written by Surin Murugiah of theedgemalaysia.com
Friday, 22 July 2011 10:50
KUALA LUMPUR: Oil and gas services provider Bumi Armada continued to be actively traded on Friday, July 22 after it made an impressive debut on the Main Market of Bursa Malaysia on Thursday.
At 10.50am, Bumi Armada was up five sen to RM4.19 with 31.26 million shares done.
ECM Libra Research on July 21 had initiated coverage on Bumi Armada with a BUY call and a TP of RM3.91, based on a 25x PE pegging 2H11-1H12 EPS of 15.6sen.
“We view that Bumi Armada can easily achieve a 2010-2013 CAGR of 22% given their strong RM5.8 billion orderbook and also active tendering activity in the FPSO market.
“Major contracts are all for the long term (5-8 years) hence providing the group with good earnings visibility,” it said.