Ezion

Ezion: DMG maintains Buy with $2.02 TP. Note that Ezion by DMG: maintain Buy, TP 2.02, progressing as planned; major surprises unlikely. 3Q12 results on 6 Nov 2012, expect core NP of US$16m (+32% YoY, +7% QoQ), with growth coming from full quarter contribution of Liftboat No. 5, which started a long-term charter with a multinational oil company in Brunei from May 2012. Stock is now trading at 7x FY13F P/E.