Marco Polo Marine Could Win More Shipbuilding Contracts -- Market Talk
0242 GMT - Marco Polo Marine appears to be in a "rapid growth phase" with the potential to win more shipbuilding contracts, Maybank Securities' Jarick Seet says in a note. The Singapore-listed shipbuilder secured a contract to build an oceanographic research vessel over four years, which would add around S$50 million in shipbuilding revenue and S$4 million in profit--both per annum, the analyst says, adding that the new vessel contracts are likely to boost Marco Polo's earnings per share. Seet raises his forecasts for FY 2026 and FY 2027 net profit by 14.9% and 14.2%, respectively. Maybank Securities raises its target price to S$0.20 from S$0.13 and maintains a buy rating on the stock. Shares gain 5.1% to S$0.166.
