Yangzijiang: DB maintains Buy and raised its TP from $1.40 to a street-high $1.90.
As the shipbuilding industry consolidates further in China, weaker yards will become marginalized and a select group of larger/stronger yards will remain. YZJ will be one of the winners as the industry evolves to look more like the landscape in South Korea where only a few major yards dominate.
Recent order wins for LNG vessels have been announced and YZJ is close to containership new orders, reinforcing its established position.
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