Marco Polo Marine's earnings outlook appears bright, thanks to drivers including higher charter rates, say UOB Kay Hian analysts. The marine logistics group's offshore support vessel fleet should enjoy a -10% increase in charter rates in FY 2025 and see revenue growth as demand for vessels remains robust, the analysts say. Its new dry dock, which has increased capacity by up to 25%, is projected to be completed by February 2025 and is expected to contribute from 2Q FY 2025. The brokerage lifts its FY 2025-2027 earnings forecasts by 9%-16%. It also raises the stock's target price to S$0.072 from S$0.061, with an unchanged buy rating. Shares are unchanged at S$0.054. (ronnie.harui@wsj.com)
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