In his Mar 27 initiation report, Maybank analyst Hussaini Saifee expects structural demand tailwinds and strengthening margins to support Seatrium’s earnings per share to grow by a 27% compound annual growth rate from FY2025 to FY2028.
As the Middle East conflict drags on, affecting the global supply of oil and gas, reports have emerged of nations implementing measures to curb energy use including work-from-home mandates and curtailing aviation activities. Facing fuel shortages, countries are increasingly focusing on securing reliable supplies for their energy needs.
In times of crisis, there is also opportunity. In this vein of thought, Maybank has initiated coverage of global offshore and marine player Seatrium with a “buy” rating at target price of $3.10, a 38% premium on the counter’s Mar 26 closing price of $2.29.
