OCBC RESEARCH RATES KS ENERGY AS A 'BUY'
OCBC Research has started coverage of equipment distributor KS Energy Services with a 'buy' call, noting that the firm offers a 'different bite at the rig market', as it can supply 30 to 50 per cent of a client's needs in the rig-related industry.
'KS Energy has secured 14 rig-related capital equipment contracts since late 2003,' it noted.
OCBC has a fair value estimate of $3.22 for KS Energy. On Friday, KS Energy rose five cents to $2.63, with 455,000 shares traded.
OCBC Securities Research,
March 10 Rating: BUY
《The Straits Times》