0717 GMT - Seatrium's valuation and its share buyback program, which could help limit further volatility risk, drive Citi Research to upgrade the stock to buy from neutral while maintaining its target price of S$2.65. After the integrated shipyard's recent share-price correction, the stock is now trading at attractive levels, analyst Luis Hilado says in a note. A significant portion of Seatrium's approved S$100 million share buyback program remains in place, he adds. There is a possibility that the company may conduct further buybacks and its share purchase mandate could be renewed again at the upcoming annual general meeting, he says. Shares are last at S$2.14. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 03:17 ET (07:17 GMT)
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