OCBC Investment Research has raised Ezra Holdings (5DN.SG) target price to $2.88 from $2.54 after rolling forward valuation to 15x blended FY10-11 earnings. Keeps “buy” call, reported Dow Jones Newswires.
Says prospects for offshore support vessel supplier remain bright given strong demand amid more upstream energy projects coming to market. Adds Ezra has shown it is able to capitalise on distressed assets when opportunities arise.