Reuters: Hot Stocks: STOCKS NEWS ASEAN-BaML ups Yangzijiang target, sees new orders

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS ASEAN-BaML ups Yangzijiang target, sees new orders Mar 16th 2012, 02:39 Thu Mar 15, 2012 10:39pm EDT Bank of America Merrill Lynch (BaML) raised its target price on Singapore-listed shipbuilder Yangzijiang to S$2.12 from S$2.08, citing a potential rise in orders for large containership orders from mid-2012. It maintained its buy rating on Yangzijiang. The shares were up 1.5 percent at S$1.385, and have soared 52 percent this year. BaML said the company could see its first rig building contract wins in the second half of the year, helped by support from the Chinese government. It also noted that shipbreaking, where ships are broken up for scrap recycling, could also see a boom amid low freight rates, as 27 percent of dry bulk carriers globally will be 20 year or older in the next five years. For a related story on the company, click 1025 (0225 GMT) (Reporting by Charmian Kok in Singapore) Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net ************************************************************ 0845 STOCKS NEWS ASEAN-Singapore index futures trade higher Singapore MSCI March futures SSGc1 edged 0.1 percent up on Friday, indicating a higher opening for the Straits Times Index . Asian shares steadied on Friday and the dollar took a breather after its recent broad rally spurred some profit taking, but a fresh batch of data suggesting the U.S. economy may be picking up momentum underpinned investor sentiment. 0843 (0043 GMT) Reporting by Charmian Kok in Singapore Reuters messaging charmian.kok.thomsonreuters.com@reuters.net Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions