ABN Amaro in its research report have suggested to BUY Aban Offshore Ltd. [BOM:523204] Aban Offshore has increased its rigs from 4 to 20 in 3 years and is one of the top-10 rig operators globally. Repricing gains, Higher Capacity and acquistion of Sinvest will drive earnings growth of Aban in the next 3 years. ABN Amro has initiated a coverage with a 12 month price target of Rs1,300. 21% upside from current levels of Rs1080.
Annualized EPS expectations for FY07, FY08 and FY09 are Rs24.8, Rs116.5 and Rs223.5.
Tags: Dalal Street, ABN Amro, Aban Offshore, Stocks India