$MarcoPolo Marine (5LY.SG)$ Maybank Securities analyst Jaric...

Maybank Securities analyst Jarick Seet has initiated a "buy" call on Marco Polo Marine with a target price of 8.8 cents. Seet's target price represents an upside of 54% from the stock's closing price of 5.9 cents as at Mar 20 and is based on 11 times Marco Polo Marine's estimated FY2024 P/E.

"Marco Polo Marine, a long-time operator in the chartering and shipyard business, is benefiting from the surge in demand and charter rates due to competition for vessels from the oil and gas (O&G) and renewable energy sectors," writes Seet in his Mar 20 report.