Samudera Shipping Line is set for better times according to one of Singapore’s few remaining shipping analysts.
KGI Securities’ Joel Ng has lifted his price target for the Singapore-listed, but Indonesian-owned shipowner by almost 50%.
“We upgrade our target price for Samudera to SGD 0.38 ($0.28) from our previous target of SGD 0.26, based on 0.6x FY17F price-to-book (P/B),” he says in a note to investors.
