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Seatrium Share-Price Weakness Offers Buying Opportunity -- Market Talk
0522 GMT - Any weakness in Seatrium's share price could be an opportunity to accumulate the stock, Citi's Luis Hilado says in a note. While Seatrium has agreed to resolve its dispute with a Maersk affiliate over a vessel contract, the Empire Wind project that the vessel was intended for was newly suspended, which could affect the share price, the analyst says. However, he notes that the vessel could be used in European markets rather than being limited to U.S. offshore projects, according to the Singapore offshore and marine company. He thinks this would help offset project and commercial launch risks related to the vessel contract. Citi retains its buy rating and S$2.65 target price on the stock, which is flat at S$2.13.
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