Brokers' Take

Libra Group | Buy

Jan 6 close: S$0.199

Target price: S$0.33

OCBC Investment Research, Jan 6

Libra announced last month that it had won a collective S$11.3 million of M&E (mechanical and electrical) contracts. With year-to-date order book estimated at S$105.6 million, we believe the group is on track to achieve Patmi (profit after tax and minority interests) forecasts of S$4.7 million and S$7.8 million in FY2014 and FY2015 respectively ...

In the latter half of this year, we can expect to see upside from a licence upgrade for its main contract business, which would increase the contract tender limit from S$1.4 million to S$40 million, thus rendering this segme…