Yangzijiang - Yangzijiang target raised to $2.40 by Deutsche Bank

Stock Name: Yangzijiang
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD
Research House: Deutsche Bank

Deutsche Bank lifts Yangzijiang (BS6.SG) target price to $2.40 from $1.90 after raising FY11-12 forecasts for new orders by 60%-78%, keeps Buy call, says Dow Jones.



“YZJ is still seeing strength in the container ship market and appears hopeful for more orders,” says Deutsche Bank, adding China-based shipbuilder’s recent TDR listing has raised its profile among key Taiwanese shipping lines, with 1 shipyard now in talks with company to build 8,000-TEU (20-foot equivalent units) container ships.

“Any success in this area may allow the group to scale up on its capabilities and add a new line of vessels to its portfolio” as YZJ’s largest vessels so far can carry only 4,250 TEUs.



Shares +1.7% at $1.83.