STX-OSV: secured contracts for the design and construction of two Platform Supply Vehicles (PSVs) for Farstad Shipping worth about NOK600m (~US$110m). Deliveries are scheduled for 1H13 from STX OSV Langsten in Norway and STX OSV Vung Tau in Vietnam. Including these contracts, STX OSV has 52 vessels in its order book. Ytd, it has secured ~US$323m in orders, vs US$578m revenue booked in 1Q11...
Stock currently trades at 7X P/E. The street largely has a Buy on the stock with TP ranging from $1.68 – 1.89.
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