SIAS Research on Hup Steel - Singapore Stocks - Learn & Discuss Good Stocks Tips & Analysis!

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08-07-2008, 10:03 PM

abhinav2492 abhinav2492 is offline

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SIAS Research on Hup Steel

Hup Steel is a leading stockist for steel hardware machinery and general merchandise as well as providing racking and sandblasting services to the marine, oil and gas, and construction sectors.

Hup Steel is not one of the cheapest steel stockist. However, from a stand-alone perspective, HUPSteel’s current PE08 of 5.0 times is not expensive. SIAS Research has therefore initiated a "buy" with a target price of $0.35 cts.

The major risk for the stock in near term would be falling steel prices. A
precipitous fall in the price of steel could result in HUPSteel selling in the spot market at lower prices and would drag on the company’s profitability.

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