Her move follows reports from Tradewinds – a publication focused on shipping and maritime news – that the shipbuilder has secured 12 new orders amounting to US$353 million ($492.5 million) for the construction of bulkers and multi-purpose vessels for Shanghai Ganlu and Tiger Group.
SINGAPORE (June 15): DBS Research Group is reiterating its “buy” call and target on Yangzijiang Shipbuilding at $1.40. This gives the counter a 43% upside from its 98-cent close on June 12, analyst Ho Pei Hwa says in a June 15 flash note.
“Stock is attractive at 0.6x P/BV and 7x FY20F PE despite offering 8-9% ROE and 4% dividend yield,” she elaborates.
