Excerpts from analysts' reports
UOB Kay Hian initiates coverage of cash-rich Lantrovision
Analyst: Loke Chunying
We initiate coverage on Lantrovision with a BUY recommendation and target price of S$0.645. Lantrovision is principally engaged in the installation and maintenance of structured cabling systems for the finance and IT sectors.
With over 20 years of operational history, Lantrovision has formed and maintained strategic relationships with a group of blue chip clients that include major banks and global MNCs.
With a net cash position of S$82.1m that forms 64% of current market cap, Lantrovision is trading at a compelling valuation of 4.0x (ex-cash) FY15F PE, which is at a steep 52% discount to its peers’ average trailing 12M PE of 8.3x.
CIMB lifts earnings forecast and target price of Nam Cheong (to 44 cents)
Recent story: NAM CHEONG -- buy, target 48 c, BOUSTEAD --- hold, $2.00 target