Brokers' take
ISOTeam | Buy
June 4 close: S$0.605
Target price: S$0.705
UOB Kay Hian, June 4
ISOTeam (ISO) has proposed the placement of up to 9 million new shares (to an institutional investor and individual investors) at S$0.58 per share, which will raise net proceeds of up to S$5 million. ISO also announced that it has secured S$24.8 million worth of contracts, bringing its total contracts secured for FY15 to S$78.1 million.
We moderate our revenue forecast down as we had earlier been too aggressive in our contract wins estimate, but keep our profit forecast relatively unchanged as we adjust our gross profit margins higher to 22 per cent. Despite rising cost pressures, ISO has displayed resilie…
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