SINGAPORE (Jan 8): OCBC is maintaining its “buy” recommendation on Triyards but says it is reviewing its fair value estimate of 61 cents after the shipbuilder reports earnings that were in line with its estimates.

Triyards reports a 38% on-year rise in revenue, but net profit declined 25% in the first quarter.

Triyards is faring "relatively well" compared with its offshore and marine peers, OCBC says.

As at 3.08pm, shares of Triyards are up 2.1% at 48.5 cents, compared with a 0.8% gain by the benchmark Straits Times Index.