Ezion: Technical Alert, share price is beginning to test its 1 yr high again of $0.76. A close above that level could see higher highs.
Recall, share price jumped 3.5% yesterday, after Co. announced it has secured a US$93.5m charter contract to deploy a service rig in North America.
DMG note that based on preliminary estimates, assuming US$8m net profit per annum, the service rig contract could lift FY2012-2013 forecast earnings per share (EPS) estimates by 3% and 9% respectively, citing Ezion as house top pick (TP $1.00) in the small/mid-cap O&G sector given its strong EPS growth.
Meanwhile, CIMB reiterated its 'O/p' call on Ezion, adding that investors have come to appreciate Ezion's solid track record, together with a strong cash-generating business, backed by assets under long-term contracts.
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