Uni-Asia Group provided its latest 9MFY2021 ended September update, which highlighted a potential record FY2021.

With that, UOB Kay Hian is keeping its “buy” call on Uni-Asia with a target price of $2.34.

Analyst Clement Ho says, “The incoming 4Q winter heating season in the northern hemisphere is expected to keep the dry bulk market busy; beyond that, we believe freight rates will stay elevated at least until end-2022 given the favourable demand-supply imbalance.”

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