Perisai oh Perisai

This perisai share price look like kanasai.

Why so many broker house recommend buy?

CIMB - RM 1.53

Hwang DBS - RM 1.20

Hong Leong - RM 2.92

Will you follow the researchers and BUY????

Three major researchers urge “buy” on Perisai Petroleum
Business & Markets 2012
Written by Ho wah Foon of   
Wednesday, 19 September 2012 09:34

KUALA LUMPUR (Sept 19) – Three major research houses have recommended a “buy” call for Perisai Petroleum Bhd following news that the company has secured bareboat charters for 51%-owned Intan Offshore’s support vessels with contract value of US$40 million.
The charters are for three years effective Sep 1, 2012, and the daily hire rate is US$36,630 for the eight offshore vessels. Its impact on company earnings is immediate.
While CIMB has a target price (TP) of RM1.53 for Perisai, HwangDBS Vickers Research has RM1.20. Hong Loeng Invsetment Bank’s TP is much higher at RM2.92.
“We estimate that Intan will contribute 19% to group revenue and 8% to group net profit in FY2012. Intan’s vessels have their own niche and customer base,” said CIMB in a note.

In its recommendation, CIMB said: “Buy aggressively as the stock offers the most share price upside and undemanding FY12-14 P/Es of 7-9x. Its 3-year EPS CAGR of 97% is the highest in the sector.”

It said the stock remains an “Outperform” and its top small-cap oil & gas pick, due to attractive valuations and aggressive fleet expansion.
Noting that the agreement comes as part of the renewal for its three vessels that have expired on Aug 31, 2012, as well as revisions for the remaining 5 vessels (yet to expire), HwangDBS said its TP for Perisai is RM1.20.
Hong Leong Invsetment Bank said the management of the company has recently told its researcher that 80% for its income up to mid-2013 is guaranteed.
For this reason and the optimism on the new agreement, Hong Leong IB raised its TP for Perisai to RM2.92 – much higher than other research houses.