Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Nomura starts STX OSV as reduce

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STOCKS NEWS SINGAPORE-Nomura starts STX OSV as reduce Mar 27th 2012, 01:07 Mon Mar 26, 2012 9:07pm EDT Nomura initiates coverage of Singapore-listed offshore vessel builder STX OSV Holdings Ltd with a reduce rating and a target price of S$1.68. STX OSV's shares have risen 53 percent so far this year to close at S$1.78 on Monday. "Although the outlook for the company and the offshore support industry remains relatively positive, order book replenishment remains a concern," Nomura said in a report. The broker said new contracts secured so far this year only accounts for 10 percent of Nomura's order win assumptions. It said STX OSV's valuations also look lofty, as it is trading at 8.7 times its 2012 forward price-to-earnings ratio, the high end of its historical PE band of 4-9 times. Out of 12 brokers tracking the stock, 11 have a buy or strong buy and one has a hold rating. For a related story, click: 0857 (0045 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ STOCKS NEWS SINGAPORE-Singapore index futures rise Singapore index futures rose 1 percent, indicating a strong start for the benchmark Straits Times Index. The Nikkei share average was up 1.6 percent, while Korean shares gained 0.9 percent, buoyed by Federal Reserve Chairman Ben Bernanke's signal for supportive monetary policy. 0839 (0039 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) Link this Share this Digg this Email Reprints

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