Sunday, July 09, 2006

Stock Upgraded: BH Global Marine target price of 0.425 by Wescomb!

BH Global Marine stock was higher on hopes that its earnings will grow steadily because of the greater activity in the offshore and marine sector, dealers said. In early trading, BH Global gained 0.005 sgd or 1.7 pct at 0.30, on volume of 955,000 shares. Westcomb Financial Group says it has a "buy" rating for the stock, with a target price of 0.425 sgd. "The group's close working relationship with customers in the buoyant marine and offshore sector augurs well for the group. It will continue to ride on the bright prospects of these sectors," Westcomb research head Chua Sock Chuang said in a note. Westcomb forecasts that BH Global's net profit will grow to 8.3 mln sgd this year from 6.8 mln sgd last year, and to 10.2 mln sgd next year.

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