Oiltek International - UOB Kay Hian 2024-12-11: Engineering Specialist With Strong Orderbook & Positive Outlook

• Initiate coverage on Oiltek with BUY and Oiltek's target price of S$1.22, based on 18.9x 2025F P/E, pegged to 0.9x PEG. Oiltek's share price is trading at a discount of 30% vs its peers’ average.
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Strong track record and growth profile; expect double-digit earnings growth for 2024-26.

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• Oiltek’s solid track record is evidenced by its ability to deliver close to US$1b of total contract value and to win repeat orders regularly from its major customers. It has operations in 36 countries across five continents and services prominent clients in the agricultural commodities market.
• On the back of Oiltek’s strong and growing orderbook, its earnings are expected to grow 39%/15%/11% in 2024/25/26.

Accelerating demand for Oiltek’s engineering services should boost orderbook.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-03-27 Oiltek - Multiple Positive Catalysts For Valuation Re-rating.

Previous report by UOB:
2025-02-13 Oiltek International - Record-high Revenue & Earnings For 2024; Bright Future Ahead.

Price targets by 3 other brokers at Oiltek Target Prices.

Listing of research reports at Oiltek Analyst Reports.

Relevant links:
Oiltek Share Price History,
Oiltek Announcements,
Oiltek Dividend Payout Dates & Corporate Actions,
Oiltek News