Yangzijiang Shipbuilding’s “better than expected” earnings for FY2021 ended Dec 31 2021 has pushed UOBKayHian (UOBKH) analyst Adrian Loh to maintain his “buy” call on the counter, at a revised target price of $1.95.
This is down 5 cents from his previous $2.00 call, but is expected to give the counter a 41.4% upside from its $1.38 price, Loh writes in a Mar 1 note.
His lower target price follows a small downgrade of 2% in his Earnings Per Share (EPS) forecast for 2022 due to anticipations of a margin compression in the shipbuilding segment in 1HFY2022.
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