Seatrium Limited, the Industrials sector company, was revisited by a Wall Street analyst on July 7. Analyst Adrian Loh from UOB Kay Hian maintained a Buy rating on the stock and has a S$2.96 price target.
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Adrian Loh’s rating is based on Seatrium Limited’s strong market leadership and execution capabilities, as evidenced by the timely delivery of the P-78 FPSO, which highlights the company’s proficiency in managing large-scale offshore production projects. This achievement, along with the company’s expanding order book valued at S$21.3 billion, provides revenue visibility extending to 2031, underscoring Seatrium’s strategic positioning in high-value, specialized projects.
Additionally, Seatrium’s recent contract win for converting an LNG carrier into a floating storage regasification unit (FSRU) further solidifies its foothold in the energy sector, particularly in renewables and cleaner energy solutions. The anticipated strong financial performance for the first half of 2025, with expected revenue of S$4.1 billion and significant profit growth, supports the Buy rating. These factors collectively highlight Seatrium’s robust potential for future growth and profitability.
In another report released on June 30, CGS-CIMB also reiterated a Buy rating on the stock with a S$2.80 price target.
SMBMF’s price has also changed slightly for the past six months – from $1.540 to $1.500, which is a -2.60% drop .