Marco Polo Marine's FY 2024-2025 Earnings Outlook Seem Brighter -- Market Talk

Dow Jones2023-12-11

0323 GMT - Marco Polo Marine's fiscal 2024-2025 earnings outlook appears brighter, UOB Kay Hian analysts say in a research report as they raise the stock's target price to S$0.066 from S$0.060. The Singapore-listed marine logistics group posted strong FY 2023 earnings beat on favorable charter rates for offshore support vessels and high utilization rates, the analysts note. The company expects the utilization rate of its OSVs to stay relatively robust on positive demand-supply dynamics, the analysts note. The brokerage lifts its FY 2024 and 2025 earnings estimates for Marco Polo Marine by 55% and 50%, respectively. It keep a buy call on the stock, last quoted at S$0.050. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 10, 2023 22:23 ET (03:23 GMT)

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