Vard: Issued a profit warning this morning saying that 3Q15 results will be negatively affected by continued operational challenges in its Brazil shipyards as well as negative trends in the Brazilian economic and political environment.
Results will be released on 11 Nov 2015.
Maybank-KE has a SELL call on the stock with TP of $0.35 and below-consensus earnings estimates.
House also highlighted in its recent stress test report, "Unmasking Asia: The Growth Conundrum" that Vard is one of the most vulnerable stocks under the stress scenarios.
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