Key Indices
Top Stories
Company Results | Marco Polo Marine (MPM SP/BUY/S$0.127/Target: S$0.173)
- MPM’s 3QFY26 results were broadly in line, with revenue/gross profit rising 13%/7% yoy to S$35.7m/S$15.0m respectively. We remain positive on the medium-term outlook, supported by healthy chartering and shipyard demand, the S$198m ORV contract and the Siemens Gamesa CSOV agreement. We cut our FY26 earnings/revenue estimates by 8%/3% but raise our FY27/28 forecasts. Maintain BUY with a lower S$0.173 target price on lower valuation multiples.
Market Spotlight
- US stocks were higher on Thursday, with all indices rising as the information technology sector rose. There were more decliners than advancers on the NYSE.
- The FSSTI fell 37.47 points to 5,684.12, on the back of weakness in DBS and OCBC Bank. Mid-cap indices fell while small-cap indices rose with a broad market decline on S$1.61b turnover.
Technical Analysis
Hong Leong Asia (HLA SP)
- Trading Buy Range: S$2.92-2.93
Seatrium (STM SP)
- Trading Buy Range: S$2.18-2.19
Top Stories
Company Results | Marco Polo Marine (MPM SP/BUY/S$0.127/Target: S$0.173)
- MPM’s 3QFY26 results were broadly in line, with revenue/gross profit rising 13%/7% yoy to S$35.7m/S$15.0m respectively. We remain positive on the medium-term outlook, supported by healthy chartering and shipyard demand, the S$198m ORV contract and the Siemens Gamesa CSOV agreement. We cut our FY26 earnings/revenue estimates by 8%/3% but raise our FY27/28 forecasts. Maintain BUY with a lower S$0.173 target price on lower valuation multiples.
Market Spotlight
- US stocks were higher on Thursday, with all indices rising as the information technology sector rose. There were more decliners than advancers on the NYSE.
- The FSSTI fell 37.47 points to 5,684.12, on the back of weakness in DBS and OCBC Bank. Mid-cap indices fell while small-cap indices rose with a broad market decline on S$1.61b turnover.
Technical Analysis
Hong Leong Asia (HLA SP)
- Trading Buy Range: S$2.92-2.93
Seatrium (STM SP)
- Trading Buy Range: S$2.18-2.19
Key Indices
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