YZJ Shipbldg SGD (BS6.SI) shares surged 14.56% in Monday's pre-market trading, buoyed by a series of positive developments. The stock's significant upward movement comes on the heels of an analyst upgrade, share buyback announcement, and dividend-related news.
DBS analyst Pei Hwa Ho reiterated a Buy rating on Yangzijiang Shipbuilding, setting a price target of S$3.80, which implies substantial upside potential from the previous closing price. This bullish stance is further supported by a "Moderate Buy" consensus among analysts, with an average price target suggesting a 44.08% upside. Additionally, CLSA maintained a Buy rating with a S$2.60 price target.
Adding to the positive sentiment, Yangzijiang Shipbuilding announced a share buyback program, purchasing 1,000,000 shares on April 17, 2025. The company also issued a revised notice for its proposed final dividend of S$0.12 per ordinary share, adjusting the record date to accommodate the Chinese Yuan counter and upcoming public holidays in China. These factors collectively contributed to the strong investor enthusiasm, driving the stock's impressive pre-market rally.
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