Tuesday, March 24, 2015

Yangzijiang price target raised 6.8% to $1.42 by OCBC

Stock Name: Yangzijiang.ES.1503
Company Name: YANGZIJIANG SHIPBLDG.ES.1503
Research House: OCBCPrice Call: BUYTarget Price: 1.42



SINGAPORE (March 24): OCBC Investment Research has raised its price target for Yangzijiang Shipbuilding to $1.42 from $1.33 to factor in revisions to its Singapore dollar/Chinese yuan estimate.

The new target values the company's shipbuilding business at eight times earnings and its held-to-maturity investment portfolio at 0.85 times book value.

OCBC has retained its "buy" call on the stock, saying Yangzjiang's fundamentals remain sound.

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