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Going up?
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jesnigel
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03-Apr-2007 16:53
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Unbelievable performance today. ML PO of $1.59 looks reacheable already. IF only you know which big boys are issuing which reports - we will all be rich just punting the market. Maybe someone can start a column to tell SI members about new reports early in the morning!! |
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spurs88
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03-Apr-2007 11:16
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Read this from ML!!!!CHEONG AH!!!! Initiating coverage with a Buy and PO of S$1.59 We initiate coverage on Inter-Roller Engineering with a Buy recommendation and a 12-month price objective of S$1.59 based on DCF valuation. We forecast an EPS CAGR of 28% over 2007-09E, translating to attractive P/E multiples of 12x 2007E and 10x 2008E with a yield of 8%. Establishing a global footprint Inter-Roller has succeeded admirably in penetrating the international markets for aviation infrastructure projects, in our view. Leveraging off its expertise and knowledge gained from its work on Singapore?s perennial award winning Changi Airport, Inter-Roller has gained a foothold across five continents in over 20 countries. Excellent order book potential Rising passenger traffic for business and leisure is driving the growth of airport infrastructure. For developing countries, aviation gateways are also a key source of connectivity for sustained economic growth. In Asia alone, projected expenditure on aviation infrastructure is expected to total US$60bn over the next decade. This bodes well for Inter-Roller?s potential order book. Ready for takeoff Valuations are attractive, especially when coupled with Inter-Roller?s strong track record of steady growth and an extremely generous dividend policy. After taking a more conservative stance in 2006, management is now optimistic on forward order book prospects. We expect Inter-Roller to be re-rated in the coming year. Risks The vulnerability of the aviation industry to security or macro risks could have an impact on Inter-Roller. Failure to secure additional contracts for its order book and unforeseen operational or execution delays could be potential risks. The business model also results in inherent short term earnings fluctuations. |
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scotty
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02-Apr-2007 10:14
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Manipulation by the big boys?? |
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jesnigel
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02-Apr-2007 09:59
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Int-Rol exhibit some strange trading last Friday - it was up at 94 cents before collasping to 86 cents and rebounding to 89 cents at the close. Anyone following this and have any explanantion? My charts shows uptrending for this counter. |
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