Stock Name: STXOSV
Company Name: STX OSV HOLDINGS LIMITED
Research House: CIMB
Company Name: STX OSV HOLDINGS LIMITED
Research House: CIMB
Shares of Singapore-listed shipbuilder STX OSV (STXO.SI) rose as much as 3% on Friday to over a two-month high after it said it had secured contracts for the design and construction of three vessels, traders said.
At 9:45 a.m., shares of STX OSV were 2.3% higher at $1.32 with over 5 million shares changing hands.
STX OSV did not disclose the value of the contracts, but CIMB Research said they could be worth as much as US$300 million ($378.2 million).
At 9:45 a.m., shares of STX OSV were 2.3% higher at $1.32 with over 5 million shares changing hands.
STX OSV did not disclose the value of the contracts, but CIMB Research said they could be worth as much as US$300 million ($378.2 million).
“We continue to see catalysts from stronger-than-expected orders and strong quarterly results,” said CIMB in a report. It has an outperform rating on STX OSV and a target price of $1.60.
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