Seatrium Ltd
5E2: XSES (SGP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SGD 9.32 | Cfwl | Qhvzxcfw |
Seatrium: Business Update Largely in Line; Shares Fairly Valued
We keep Seatrium’s fair value estimate at SGD 0.12 following its in-line third-quarter business update. Following the recent correction, we think Seatrium is currently fairly valued. The firm continues to guide for a loss-making 2023, with first-half results affected by provision for contracts and merger expenses. We forecast Seatrium to turn profitable in 2024 and our near-term earnings estimates are unchanged. We believe significant new order wins will help to drive share price performance.