Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC ups Dyna-Mac target price

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STOCKS NEWS SINGAPORE-OCBC ups Dyna-Mac target price Sep 12th 2012, 01:08 Tue Sep 11, 2012 9:08pm EDT OCBC Investment Research raised its target price for offshore services firm Dyna-Mac Holdings Ltd to S$0.62 from S$0.52, and kept its 'buy' rating, citing improving outlook for the industry. Shares of Dyna-Mac rose 1.9 percent to S$0.525 and have surged 23.5 percent so far this year, compared to the FT ST Oil & Gas Index's 26.7 percent rise. Fundamentals driving the floating production systems are robust and recent orders have been at a near record pace, according to the International Maritime Associates, and OCBC said Dyna-Mac could capture a fair share of new orders. The company is also increasing its yard capacity to meet growing demand. It acquired a 70 percent stake in fabrication yard in Guangzhou, China and rented another yard in Johor, Malaysia, increasing production capacity by at least 80 percent, OCBC said. 0900 (0100 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com)

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