Technics Oil & Gas: secures two Contract Engineering (CE) contracts worth a total of $10.1m. The first is for the Group’s 3rd contract in Russia involving CE for the supply of super structure for a jackup; the second contract involves CE for the manufacture and supply of Well Testing eqpt for a Chinese end-user.
The stock trades at 9x P/E, with FYSep12E yield of 9.2%.
Sias has an Overweight rating with TP $1.35, AmFraser has a Buy call with TP $1.22.
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