Marco Polo Marine Benefiting From Strong Demand, Crude Prices -- Market Talk

Dow Jones2022-12-09

0057 GMT - Marco Polo Marine's strong balance sheet and efforts to expand in the offshore windfarm sector will help make its business resilient over the long term, UOB analysts Heidi Mo and John Cheong say in a research note. The shipbuilder is benefiting from strong demand, supported by higher crude prices that have led to oil majors looking to increase production, the analysts say. UOB raises its forecast for the company's FY2023-24 revenue by 50%-62%, on higher margin assumptions and improving charter rates. However, UOB downgrades its stock to hold from add after adjusting its valuation. Shares closed at S$0.04 on Thursday. (justina.lee@wsj.com)

(END) Dow Jones Newswires

December 08, 2022 19:57 ET (00:57 GMT)

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groundzero
2023-01-25
groundzero
Anticipating MP to go above $0.05 in weeks

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