Mermaid Maritime ‘relatively safer’ amid O&G distress

SINGAPORE (Nov 17): DBS Group Research is keeping Mermaid Maritime on “hold” with a higher target price of 12 cents, from 9 cents previously, despite lower earnings visibility from a declining order book and an expected fall in profits from its joint venture / associate.

“We believe investors willing to ride out this oil price cycle can still consider relatively safer stocks like Mermaid, especially in the wake of more O&G-related companies facing distress,” says DBS lead analyst Suvro Sarkar.

“Additionally, we believe Mermaid remains a candidate for privatisation by majority shareholder Thoresen Thai and its promoter group, which together control 77% of the outstanding shares,” says Sarkar.

---

Related Stories

• Brokers’ Digest: CDL, PropNex, PLife REIT, KIT, SingPost, Grand Banks Yachts, Nio, Frencken, ST Engineering, UOB
• Prospects of better FY2025 earnings inspire new ideas for ThaiBev
• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05

---