Yangzijiang Shipbuilding's High Margins Appear Sustainable -- Market Talk

Dow Jones

2024-11-13

0132 GMT - Yangzijiang Shipbuilding's high margins appear sustainable, based on management commentary, UOB Kay Hian's Adrian Loh says. At an analysts' call, management said its 3Q shipbuilding margins were "a little bit higher" than 1H's margin of 25.9%. The company seems very comfortable that its current shipbuilding margin levels are sustainable, the analyst adds, noting that its steel prices which have been fixed for 2025 and should stay stable into 2026. The Singapore-listed company also announced that it has secured several new orders for its Yangzi Hongyuan yard. The brokerage raises the its target price for the stock to S$3.60 from S$3.40 with an unchanged buy rating. Shares are unchanged at S$2.57. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 12, 2024 20:32 ET (01:32 GMT)

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

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(ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 12, 2024 20:32 ET (01:32 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}