Seatrium Shares Up 2.4% as Citi Upgrades Seatrium to "Buy" with TP of $2.65

TigerNews SG

03/10

Citi Research has upgraded its call on Seatrium from “neutral” to “buy”, with an unchanged target price of $2.65, on the back of valuation and potential resilience with its share buyback programme.

Analyst Luis Hilado says that Seatrium’s recent $15 billion win of a FY2025 - FY2029 floating production storage and offloading (FPSO) contract and wins in FY2024 and year-to-date, should provide long term revenue visibility into FY2031.

Shares of Seatrium up 2.4% on Monday.

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