Empired’s share price to be driven by strong earnings
Further contract awards, along with evidence that IT services provider Empired can meet expectations by delivering a strong 2013-14 result, are the most likely share price catalysts. Its management may provide guidance when delivering the interim result in February.
Analysts at Bell Potter see Empired as offering substantial share price upside driven by earnings per share growth of 30 per cent per annum over the next three years. The broker has a “buy" recommendation on the West Australian-based IT services provider with a 12-month price target of 92¢.
The company operates throughout Australia providing full-service IT solutions for the energy and natural resources industries as well as government agencies. Bell Potter highlighted that the company distinguishes itself from other players in a competitive sector by providing business solutions rather than just technical labour and the on-selling of hardware and software.
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