His lower target price follows a small downgrade of 2% in his Earnings Per Share (EPS) forecast for 2022 due to anticipations of a margin compression in the shipbuilding segment in 1HFY2022.
Yangzijiang Shipbuilding’s “better than expected” earnings for FY2021 ended Dec 31 2021 has pushed UOBKayHian (UOBKH) analyst Adrian Loh to maintain his “buy” call on the counter, at a revised target price of $1.95.
This is down 5 cents from his previous $2.00 call, but is expected to give the counter a 41.4% upside from its $1.38 price, Loh writes in a Mar 1 note.
