Last month, Dyna-Mac announced a partnership with fellow listed O&M player Kim Heng to use the latter's yard space to fulfill its growing order book.
Ada Lim of OCBC Investment Research has reiterated her 'buy' call and 50.5 cents target price on Dyna-Mac Holdings.
In her Sept 22 note, Lim notes that although the topside module builder's share price has retraced from a recent peak of 44 cents on Aug 10, the share price has doubled year to date (YTD). Nonetheless, Lim sees further upside given a stronger-than-expected upcycle and potential catalysts ahead for Dyna-Mac, which is net-cash.
