“We have little findings on possible company specific negative development following checks with management and market sources. We believe 2HFY2022 performance should be promising in view of the higher activity level and favourable forex and steel cost,” says the analyst.
DBS Group Research analyst Ho Pei Hwa has reiterated her “buy” call for Yangzijiang Shipbuilding (YZJ) with a target price (TP) of $1.70.
According to Ho, the recent price weakness following the doubling of YZJ’s share price last year presents a “buying opportunity”. The stock’s share price tumbled 12% to $1.20 in the first two trading days of 2023 on a high average daily volume of 86 million shares compared to the two-year average daily volume of 30 million.
