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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.