Stock Name: Yangzijiang
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD
Research House: OCBC
Says closer Taiwan/China ties mean YZJ now able to learn from CSBC’s designs, “which may help in its bid to develop newer and more innovative vessel types.” House likes YZJ’s good track record, plans for future; “the group has been executing its orders well and management is keen to bring the group to a new level with its various initiatives. However, we have taken these into account in our estimates and at current price level (13X forward P/E), positives on the stock appear to have been priced in”.
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD
Research House: OCBC
OCBC keeps Yangzijiang Shipbuilding (BS6.SG) at Hold with $2.04 fair value; says technical cooperation MOU with CSBC—Taiwan’s leading shipbuilder—over joint cargo ship production “is evidence of YZJ starting to reap benefits from its (TDR) listing”; with increased publicity, credibility for group in Taiwan.
Says closer Taiwan/China ties mean YZJ now able to learn from CSBC’s designs, “which may help in its bid to develop newer and more innovative vessel types.” House likes YZJ’s good track record, plans for future; “the group has been executing its orders well and management is keen to bring the group to a new level with its various initiatives. However, we have taken these into account in our estimates and at current price level (13X forward P/E), positives on the stock appear to have been priced in”.
Shares flat at $1.86.
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