Yangzijiang Shipbuilding (BS6.SI) shares surged 14.56% in pre-market trading on Monday, following a series of positive developments for the company. The significant uptick comes on the heels of an analyst upgrade, a share buyback program, and a dividend announcement.

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 stock's previous closing price. This bullish stance is echoed by the broader analyst community, with a consensus Moderate Buy rating and an average price target of $2.19, suggesting a 44.08% upside. CLSA also 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 has cumulatively bought back 15,000,000 shares, representing 0.377% of its issued shares. Furthermore, the shipbuilder revised its record date for a proposed final dividend of S$0.12 per ordinary share for the financial year ended December 31, 2024, subject to shareholders' approval. These shareholder-friendly moves, coupled with the strong analyst outlook, have likely contributed to the stock's impressive pre-market rally.