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UOBKH maintains its 'buy' call on Yangzijiang Shipbuilding following 'better than expected' FY2021 earnings

Amala Balakrishner
Amala Balakrishner3/9/2022 7:8 PM GMT+08  • 4 min read
UOBKH maintains its 'buy' call on Yangzijiang Shipbuilding following 'better than expected' FY2021 earnings
Analyst Adrian Loh is maintaining his “buy” call on the counter, at a lower target price of $1.95.
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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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