Credit Suisse rated 'Underperform' on Ezion Holdings

• AhSiaKia123

  10 Jul 14, 21:46

  

   

  "We initiate coverage of Ezion with an UNDERPERFORM rating and a target price of S$1.80. Our target price of S$1.80 is derived from a SOTP valuing Ezion’s service rigs using a DCF with a useful life of five years. While Ezion’s P/E is at a discount to peers, we believe this is justified as close to 40 per cent of its 2015 earnings are from service rigs that will not be recurring beyond 2018. On 2015 EV/EBITDA of 7.1x, Ezion is trading at a premium to the sector average of 6.5x despite its fleet of older assets" 

  http://iinvestiearnipost.blogspot.com/2014/07/credit-suisse-rated-underperform-on.html

• teddy2001

  11 Jul 14, 00:02

  What is Ezion's debt-to-equity ratio? 

• Jacko99

  11 Jul 14, 09:09

  Well it has gone up a lot in the first place...