WOR - WORLEYPARSONS LIMITEDUBS rates WOR as Buy - The broker...

WOR - WORLEYPARSONS LIMITED
UBS rates WOR as Buy - The broker notes the company has won a contract for the engineering of the Keystone Pipeline in Canada and it sees scope for this to be a major contract for the group going forward.

While not adjusting its forecasts on the news the broker sees the announcement as supportive of its Buy rating.

Target price is $33.00 Current Price is $15.10 Difference:$17.90 - (brackets indicate current price is over target). If WOR meets the UBS target it will return approximately 119% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in June. UBS forecasts a full year FY09 dividend of 86.00 cents and EPS of 189.00 cents . At the last closing share price the estimated dividend yield is 5.70%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.99.

Market Sentiment: 0.4