On 12 November 2024 UOB Kay Hian wrote the following:
Seatrium initiated a S\$100 million share buyback program on 4 June 2024, following a 20-for-1 share consolidation. To date, the company has spent S\$29 million repurchasing approximately 18 million shares at an average price of S\$1.63 per share. With only 29% of the authorized amount spent, further share buybacks are anticipated to support the share price in the near to medium term.
We maintain our BUY recommendation with an unchanged P/B-based target price of S\$2.80. This target price reflects a P/B multiple of 1.4x, which is 1 standard deviation above the company’s five-year average, applied to its 2025 book value of S\$2.04. This valuation is justified by Seatrium’s strong global competitive position.
today, Seatrium chart turns positive again.
Thank you
