KUALA LUMPUR: CIMB Equities Research has lowered its target price for Bumi Armada
from RM1.81 to RM1.50 as it reduces its FY15-16 EPS for lower revenue assumptions for the offshore support vessels (OSV) and transport and installation (T&I) businesses.
It said on Friday after stripping out RM147mil one-off items, Bumi Armada’s FY14 core net profit met its expectation, forming 97% of its forecast, but trailed consensus expectation by meeting 91% of its estimates.
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