Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC raises Ezion target to S$1.53

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STOCKS NEWS SINGAPORE-OCBC raises Ezion target to S$1.53 Sep 14th 2012, 02:25 Thu Sep 13, 2012 10:25pm EDT OCBC Investment Research raised its target on offshore services firm Ezion Holdings Ltd, which is now a S$1 billion ($812.7 million) company, to S$1.53 from S$1.20 and maintained its 'buy' rating. Ezion shares were up 0.8 percent at S$1.27. The stock has surged 92 percent so far this year versus the 29 percent gain in the FTSE Oil and Gas Index. If Ezion succeeds in issuing perpetual securities, it will be the first offshore and marine company to issue such securities and this projects the strong confidence that the management has in the growth of firm, OCBC said. Ezra Holdings Ltd's proposed listing of its engineering and fabrication unit, TRIYARDS Holdings Pte Ltd, on the Singapore Exchange may have helped sentiment recently due to the increased awareness of the self-elevating unit, OCBC said. TRIYARDS and Ezion are involved in building or chartering self-elevating units, commonly known as liftboats. But OCBC warned of a near-term pullback due to the recent run-up in Ezion's share price. 1020 (0220 GMT) ($1 = 1.2305 Singapore dollars) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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