SINGAPORE (Oct 19): DBS Vickers Securities is downgrading Vard Holdings to “fully valued” from “hold” and cutting its target price to 38 cents from 39 cents after the shipbuilder issues a profit warning.

Last week, Vard warned its investors that its third quarter and full year financial result will be hurt by the “operational challenges” at its yards in Brazil.

DBS says checks with the management point to a loss in the third quarter.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook