0757 GMT - Seatrium's order-win momentum remains vital, says DBS Group Research's Pei Hwa Ho in a note. While the Singapore offshore-and-marine company secured a floating production unit contract from BP, the analyst notes Seatrium's order book moderated as of end-September on slow contract wins for the first nine months. The BP contract could boost its order book to around $16 billion by year-end, which implies revenue coverage of less than 2X, she says. This is "less than ideal" given a large proportion of its orders have staggered deliveries, the analyst adds. More sizable order wins and margin expansion would drive the stock to rerate, she adds, noting Seatrium's shares have underperformed this year. DBS maintains its buy rating and S$2.96 target. Shares rise 2.4% to S$2.11. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

November 26, 2025 02:57 ET (07:57 GMT)

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