Dyna-Mac May Continue Benefiting from Robust FPSO Vessel Demand -- Market Talk

Dow Jones04-04

0611 GMT - Dyna-Mac Holdings stands to continue benefiting from robust demand for floating production storage and offloading vessels, Maybank Research analyst Jarick Seet says in a research report. The manufacturer of topside modules for FPSO vessels has more than doubled its order book to S$896 million with these orders primarily for 2025-2026, the analyst notes. Also, the Singapore company has increased its capacity by 50%-60% and upgraded its capabilities to enable further optimization of construction methodology and production workflow, the analyst adds. Maybank raises the stock's target price to S$0.46 from S$0.42 with an unchanged buy rating. Shares are 1.3% lower at S$0.390. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 04, 2024 02:11 ET (06:11 GMT)

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