Stock Name: STXOSV
Company Name: STX OSV HOLDINGS LIMITED
Research House: DMG
Company Name: STX OSV HOLDINGS LIMITED
Research House: DMG
Shares of Singapore-listed offshore vessel builder STX OSV (STXO.SI) rose as much as 3.4% on Tuesday after the firm reported a 28% increase in its first-quarter net profit from a year earlier, helped by vessel deliveries.
At 9:05 a.m., STX OSV shares were up 2.6% at S$1.19 in volume of 2.9 million shares.
At 9:05 a.m., STX OSV shares were up 2.6% at S$1.19 in volume of 2.9 million shares.
The firm reported net profit of 310 million Norwegian crowns ($70 million) for the quarter ended March 31, 2011, compared with 242 million crowns a year ago.
DMG & Partners Research said in a report that STX OSV’s first-quarter results were above its expectations on the back of strong margins and operational performance.
The brokerage said the firm’s robust order book will keep its yards busy and enquiries are picking up. It raised its target price to $1.89 from $1.75 and maintained the buy rating on the stock.
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