ICTSI mid year review
The stock price of ICTSI continues to outperform the broader Drewry Port Equity Index. Even though the stock price is down by 11.2% YTD, it has outperformed the Drewry Port Equity index. At the current EV/EBITDA level, ICTSI’s valuation is almost at par with the Drewry Port Equity Index but is still at a 10% discount compared with its long-term average, highlighting the scope for the stock to move up. We estimate the fair value of the company at PHP 218.7, converting into a potential upside of 15.1%ICT Automatisering is an independent Dutch software developer active in the information and communication technology solutions market. Co. offers its clients the secondment of educated staff in dedicated fields of expertise, the realization of system solutions on a project basis and the maintenance and management of Information Technology (IT)Depreciation costsand insurance premium systems. Co is also active in Traffic & Transport and Testing through its participations in the companies: InTraffic and Improve Quality Services. Co focuses its business activities on the following six market verticals: Automotive, Industrial Automation, Logistics, Energy, Healthcare, and Machinery & Systems.
Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.
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