Marco Polo

Marco Polo: DMG note that on Mon, the controlling shareholder and Chairman of MPM purchased another 1m shares at $0.42. This is the highest price that he has been willing to pay for MPM shares in the last three years, signaling his strong confidence in the co’s prospects. This is supported by positive industry developments – MPM is the prime beneficiary of the enforced cabotage law in Indonesia which has forced out 20% of the modern AHTS supply. House reiterate conviction BUY call with a TP of $0.61 based on 9x FY13F EPS.