Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-STX OSV shares up 3 pct on order wins

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STOCKS NEWS SINGAPORE-STX OSV shares up 3 pct on order wins Jun 20th 2012, 03:07 Tue Jun 19, 2012 11:07pm EDT Shares of Singapore-listed shipbuilder STX OSV Holdings Ltd rose as much as 3 percent after it won two contracts worth 700 million Norwegian crowns ($118.1 million) to build two platform supply vessels. Shares of STX were up about 2 percent at S$1.55 at 0301 GMT and have risen 34 percent so far this year. "We believe that order momentum in the North Sea underscores robust sector dynamics, despite ongoing Euro concerns," CIMB Research said. The contracts bring the shipbuilder's order wins so far this year to 6.7 billion Norwegian crowns, two-thirds of the broker's total order target for fiscal 2012. CIMB Research kept its target price of S$2.09 on STX OSV and maintained its 'outperform' rating, saying it liked the company for its high-end capabilities, market leadership and entrenchment in Brazil. 1100 (0300 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com)

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