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CGS-CIMB positive on Yangzijiang Shipbuilding awaiting shipbuilding execution results

Chloe Lim
Chloe Lim5/20/2022 12:19 PM GMT+08  • 3 min read
CGS-CIMB positive on Yangzijiang Shipbuilding awaiting shipbuilding execution results
To the analysts, Yangzijiang’s strength now lies on its strong shipbuilding execution and attractive valuations of 6x CY2023 P/E
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CGS-CIMB Research analysts Lim Siew Khee and Izabella Tan have kept an “add” rating on Yangzijiang Shipbuilding with a lowered target price of $1.63 from $2.41.

To the analysts, Yangzijiang’s strength now lies on its strong shipbuilding execution, attractive valuations of 6x CY2023 P/E, and potential higher dividend payout.

Tan and Lim see comfortable room for higher dividend, and estimate the dividend payout of Yangzijiang’s historical shipbuilding to be in the range of 23%-35% or 1.65 cents-2.63 cents.

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