Stock Name: Yangzijiang
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD
The brokerage also said Yangzijiang has taken steps to stay ahead of its competitors by boosting shipbuilding capacity and building energy-saving vessels, which enjoy larger margins.
Company Name: YANGZIJIANG SHIPBLDG HLDGS LTD
| Research House: Kim Eng | Price Call: BUY | Target Price: 2.15 |
Kim Eng Securities has initiated coverage of Singapore-listed Chinese shipbuilder Yangzijiang (YAZG.SI) with a buy rating and target price of $2.15.
Despite keen competition from domestic and international shipyards, Yangzijiang saw its shipbuilding orders jump by 200% last year to US$1.38 billion ($1.70 billion), Kim Eng said in a report.
Despite keen competition from domestic and international shipyards, Yangzijiang saw its shipbuilding orders jump by 200% last year to US$1.38 billion ($1.70 billion), Kim Eng said in a report.
The brokerage also said Yangzijiang has taken steps to stay ahead of its competitors by boosting shipbuilding capacity and building energy-saving vessels, which enjoy larger margins.
“Near-term catalysts include robust order wins and a successful foray into the offshore marine sector,” said Kim Eng.
At 10:30 a.m., shares of Yangzijiang were flat at $1.53. The shares have fallen about 20% since the start of the year.
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