- We initiate coverage of Marco Polo Marine (SGX:5LY) with BUY and a target price of S$0.088, based on 11x FY24E P/E.
- Marco Polo Marine, a long-time operator in the chartering and shipyard business is benefiting from the surge in demand and charter rates due to competition for vessels from the O&G and renewable energy sectors.
- - Read this at SGinvestors.io -
Strong demand - charter rates rising 5-15% annually
- - Read this at SGinvestors.io -
- All in all, we expect charter revenue to continue to rise by 25% y-o-y for FY24E and FY25E.
CSOV should be a key contributor in FY25E
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-03-20
Read also Maybank's most recent report:
2024-08-26 Marco Polo Marine - A Minor Bump.
Previous report by Maybank:
2024-07-05 Marco Polo Marine - Share Price Weakness An Opportunity To Accumulate.
Price targets by other brokers at Marco Polo Marine Target Prices.
Listing of research reports at Marco Polo Marine Analyst Reports.
Relevant links:
Marco Polo Marine Share Price History,
Marco Polo Marine Announcements,
Marco Polo Marine Dividends & Corporate Actions,
Marco Polo Marine News Articles
