Yangzijiang - DBS Vickers ups Yangzijiang target 9.2% to $2.60

Stock Name: Yangzijiang
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD
Research House: DBS Vickers

DBS Vickers raises Yangzijiang's (BS6.SG) target price to $2.60 from $2.38 after rolling over its valuation to blended 2011-2012 earnings and increasing 2011-12 earnings forecasts by 4% and 14% respectively in anticipation of increased orders.

The house expects the China-based shipbuilder to clinch US$1.5 billion ($1.97 billion) of contracts next year, compared with US$600 million tipped previously: "As one of China's largest and best containership builders, Yangzijiang will be a big winner of the expected strong order flow for containerships in 2011."

DBS Vickers keeps a Buy call on the stock.

Shares are flat at $1.90.