$YZJ Shipbldg SGD (BS6.SG)$ CGS International's (CGSI) Lim S...

CGS International's (CGSI) Lim Siew Khee and Meghana Kande have maintained their "add" call on Yangzijiang Shipbuilding (YZJ) and increased their target price by 39 cents to $2.35 after an analyst briefing on May 28.

At the briefing, which took place a day after CGSI’s initial report, YZJ explains that the key positive surprise for ytd orders was contributed by containerships backed by strong freight rates, which in turn boost ship owner's profitability leading to increased newbuild orders.