Doubts over Yangzijiang Shipbuilding's 2026 Order Target Mostly Priced In
Dow Jones
Aug 10
0245 GMT - Doubts over Yangzijiang Shipbuilding's 2026 order intake target have mostly been priced in, Daiwa Capital Markets analysts say in a research report. It reported $1.75 billion of order wins in 1H and secured another $210 million in July. Meanwhile, management reiterated annual target of $4.5 billion and expressed confidence in meeting it. Although gap between its accumulated orders and annual target remains high, the related overhang on its share price has mostly been digested, the analysts say. To reflect the shipbuilder's better-than-expected 1H earnings, the brokerage lifts its 2026-2028 EPS estimates for the company by 11%-46%. It raises the stock's target price to 4.70 Singapore dollars from S$4.25 with unchanged outperform rating. Shares last closed at S$4.20.
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