Tiong Woon's Services-Demand Outlook Seems Positive -- Market Talk

Dow Jones

2024-09-26

0726 GMT - Tiong Woon Corp.'s demand outlook for its services looks positive, UOB Kay Hian analysts say in a research report as they maintain the stock's buy rating. Management remains positive on buoyant demand for its heavy-lift and haulage services in Singapore, especially in the petrochemical and construction sectors, and in other markets like India, Saudi Arabia and Thailand, the analysts note. The heavy-lift specialist is likely to continue adding higher-margin heavier tonnage cranes to its fleet with its pipeline of business opportunities, the analysts add. However, the brokerage cuts its FY 2025 and FY 2026 revenue estimates for the company by around 11% as project delays in the construction industry may persist. It also trims the target price to S$0.87 from S$0.97. Shares are 1.0% lower at S$0.505. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

September 26, 2024 03:26 ET (07:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Management remains positive on buoyant demand for its heavy-lift and haulage services in Singapore, especially in the petrochemical and construction sectors, and in other markets like India, Saudi Arabia and Thailand, the analysts note. The heavy-lift specialist is likely to continue adding higher-margin heavier tonnage cranes to its fleet with its pipeline of business opportunities, the analysts add. However, the brokerage cuts its FY 2025 and FY 2026 revenue estimates for the company by around 11% as project delays in the construction industry may persist. It also trims the target price to S$0.87 from S$0.97. Shares are 1.0% lower at S$0.505. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6504":"工业制品概念","BK6054":"综合支持服务","BQM.SI":"长运"},"translate_title":"Tiong Woon的服务-需求前景似乎乐观——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BQM.SI":0.9},"content_text":"0726 GMT - Tiong Woon Corp.'s demand outlook for its services looks positive, UOB Kay Hian analysts say in a research report as they maintain the stock's buy rating. Management remains positive on buoyant demand for its heavy-lift and haulage services in Singapore, especially in the petrochemical and construction sectors, and in other markets like India, Saudi Arabia and Thailand, the analysts note. The heavy-lift specialist is likely to continue adding higher-margin heavier tonnage cranes to its fleet with its pipeline of business opportunities, the analysts add. 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