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lazy TheEdge IPO watch regarding Swift Energy. The FY24 data is already available but TheEdge only use FY21 to FY23. The significant of FY24 must mention is EPS has huge leap to 2.25 sen from FY23 1.19 sen, so what ever researches by TheEdge, or Public Investment, and or Ta Research have been underestimate Swift Energy's earning power. Fair value gave by Public Investment as 36 sen, Ta Research 32 sen, are under shot. Assume the company kept the momentum, FY25 EPS shall be 3.375 sen to 4.25 sen, average 3.81 sen, PE 20 times, target price will be 76 sen.
FY25 EPS will be diluted due to 250 millions new IPO shares...if taken the new total shares of 1 billions...FY24 EPS is 1.69 sen only...if Swift can kept the momentum of 5 millions net profit at least each quater...EPS for FY25 could reach more than 2 sen...the prospect is there...hope the management's team keep the momentum of their good works...
