Camillo Eitzen köp!

Varning för utbrott upp! 

Aktien har konsoliderat runt ca 67-75 nok och ligger i en triangelformation. Motståndet ligger vid 74 och 75 kr. OM detta motstånd bryts tror jag vi får en rejäl skuts upp!

Vad talar för att motståndet bryts?

Jo uppgång i bulkpriserna men aktiekursen har inte hängt med.

Aktien värderas till bara ca 0,6 gånger nav kursen(net asset value).

Den negativa divergensen i RSI charten är bruten.

Stochastics nivåerna har bouncat på översålda nivåer.

En eventuell uppgång kan dra upp till 100 nok ganska snabbt.

Utdrag från Orions analys:

"CECO: ORION 40% discount to NAV: Strong Buy recommendation
Orion:

Sale: 40% discount to NAV

Camillo Eitzen reported Q2 2007 revenues of USD 272,7m, above our expec-tations of USD 242,7m. EBITDA came in at USD 65,0m, ahead of USD 59,5m estimated by us. The strong EBITDA result is mainly attributable to strong re-sults from the Bulk and Gas business divisions that showed a considerable improvement Q/Q. Eitzen Chemical, which has been consolidated in the ac-counts, has also contributed to the strong numbers.

Following strong Q2 2007 performance from the Bulk segment, we project an increase in operating profit in Q3 2007 Q/Q. Based on the guided improve-ment in the chemical tanker market for the remainder of 2007, in addition to delivery of several newbuildings, we project an increased operating profit in Q3 2007 Q/Q in Eitzen Chemical too.

Lower activity is expected in the Gas segment during Q3 2007 and we predict flat operating profit Q/Q.

NAV estimate, which includes NAV of Eitzen Chemical, has been reported at NOK 121,70 per share, leading to P/NAV of 0,6! However, using the current share price of ECHEM, we land at NAV of NOK 115,00. We think that the cur-rent discount to NAV is simply too high under the good earnings prospects. A 20% discount to NAV of NOK 115,00 per share produces a share price target of NOK 92,00, up from the previously set NOK 83,00. We issue a Strong Buy recommendation. Few recent insider buys are also supportive to our positive recommendation.

Conclusion

Camillo Eitzen reported a set of good Q2 2007 results. The main business seg-ments performed better than we expected. Earnings prospects of the company are bright and the discount to NAV is huge. Following the appreciated NAV, we in-crease our price target from NOK 83,00 to NOK 92,00 per share, implying a Strong Buy recommendation. "
 

Mvh Silicon Valley

Inlägget är redigerat av författaren.