Seatrium Ltd's stock surged 3.06% during intraday trading on Friday, showing significant upward momentum in the market session.
The sharp rise follows Maybank Research's initiation of coverage on the stock with a BUY rating and a target price of SGD3.10, representing substantial upside from the current price level. The research report highlights that energy security diversification is fueling an order upcycle for the company, which is expected to drive future growth.
Analysts also point to potential margin upside from better business mix and clean book cost control, along with a de-risked balance sheet and rising returns as key factors supporting the positive outlook for Seatrium Ltd.