In his report dated July 5, Seet outlines several positives including Marco Polo Marine’s crew transfer vessel (CTV) agreement with Siemens Gamesa for the latter’s projects in Taiwan and South Korea.
Maybank Securities analyst Jarick Seet is seeing a “golden opportunity” to accumulate shares in Marco Polo Marine (SGX:5LY
) amid the counter’s recent share price weakness. Shares in the counter have fallen by some 20% since April this year and closed at 6 cents on July 4. Seet has kept his "buy" call and target price at 9 cents.
“Marco Polo Marine’s recent share price weakness does not appear to be related to its fundamentals,” says Seet. “In fact, the outlook for Marco Polo Marine has improved as chartering rates continue to rise.”
