While keeping their target price at an unchanged $1.96, the CGSI analysts remain “optimistic” with the rise of YZJ’s share of clean energy vessels to 61% of its order book which includes new orders for six methanol dual-fuel containerships.
CGS International’s Lim Siew Khee and Meghana Kande and Citi Research’s Luis Hilado have maintained their “add” and “buy” calls on Yangzijiang Shipbuilding (YZJ) following the positive order book momentum highlighted in YZJ’s business update for the 1QFY2024 ended March 31.
In their report dated May 27, Lim and Kande note that YZJ’s order book has reached a record high of US$16.1 billion ($21.69 billion) as of May 2024.
