Seatrium's order book faces upside risks from President Trump's focus on U.S. energy dominance, OCBC Investment Research's Ada Lim says in a research report.
Trump has laid out a plan to unleash U.S. oil and gas production and boost output, which includes promoting oil and gas development in Alaska, the analyst notes.
Such policy developments could prompt global oil companies to increase oil and gas capital expenditures, potentially enabling Seatrium's order book to surprise on the upside, the analyst says.
OCBC raises the stock's fair value estimate to S$2.82 from S$2.64 to reflect a valuation roll-forward, with an unchanged buy rating. Shares are 0.4% higher at S$2.58.
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