- Yangzijiang Shipbuilding is amongst the rare gems listed on the SGX that offer double-digit growth with decent 3%-4% dividend yield.
- Despite the strong performance of Yangzijiang's share price in the past two years, we reiterate our BUY with a higher Yangzijiang's target price of S$3.80 along with higher forecasts of 5% to 11% for FY24F – 26F.
- - Read this at SGinvestors.io -
- further capacity expansion drives growth beyond 2026;
- higher dividends payout.
Margins set to climb further, beating guidance
- - Read this at SGinvestors.io -
- We are, however, relatively more confident about Yangzijiang delivering better margins for tankers, closer to that of containerships, given their solid execution track record and tendency to under-promise and over-deliver. In addition, steel cost and forex trends are also in Yangzijiang’s favour.
Steel plate prices declined over 10% in mid-2024 from early 2024 and a further 10% at the start of 2025.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Pei Hwa HO DBS Group Research | https://www.dbs.com/insightsdirect/ 2025-01-31
Previous report by DBS:
2024-08-13 Yangzijiang Shipbuilding - Reaching New Heights; 1H24 Results Ahead By A Wide Margin.
Price targets by other brokers at Yangzijiang Target Prices.
Listing of research reports at Yangzijiang Analyst Reports.
Relevant links:
Yangzijiang Share Price History,
Yangzijiang Announcements,
Yangzijiang Dividend Payout Dates & Corporate Actions,
Yangzijiang News
