Continue to steer clear of Ezra for now, advises DBS

SINGAPORE (Dec 1): DBS Vickers Securities is advising investors to continue avoiding Ezra Holdings as it maintains its “fully valued” call on the offshore support provider, while lowering its target price to 4 cents from 6 cents previously.

This is due to the research house’s belief that balance sheet risks remain high for the stock, with still no operational turnaround in sight.

In a Wednesday report, analyst Suvro Sarkar recaps how Ezra’s offshore support vessels (OSV) business, EMAS Offshore, continued to report deeper gross losses in 4Q while its fabrication segment, Triyards, is “increasingly showing cracks in its armour” with its lower margins.

---

Related Stories

• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05
• Brokers’ Digest: AEM, Prime US REIT, Hyphens Pharma, Seatrium, Valuetronics, DFI Retail Group, CDG, Centurion, Sembcorp
• Citi maintains ‘buy’ on Keppel DC REIT after acquisition of two data centres in Genting Lane

---