NAM CHEONG: Touches 2-year high following CGS' and DBS' bullish notes
Nam Cheong Limited stock has risen to a record high since it resumed trading in Jan 2024, following 2 bullish broker notes on the Malaysia-based, Singapore-listed offshore and marine player last week.
Emerging from a successful debt restructuring in 2024, Nam Cheong (market cap: S$505 million) is being touted as a high-conviction turnaround play.
Emerging from a successful debt restructuring in 2024, Nam Cheong (market cap: S$505 million) is being touted as a high-conviction turnaround play.
Analysts from CGS International and DBS Group Research highlighted the company’s deep valuation discount, its "youngest in class" fleet, and the hidden potential of its shipbuilding arm.
CGS initiated coverage on Nam Cheong with an ADD call and a target price of S$1.87.
DBS Group Research reiterated its BUY rating in a report dated 29 Jan 2026, raising its target price to S$1.60.
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Jackie Toh : do u think the ytd pullback is a sign of share price u-turn?
104533985 Jackie Toh : I guess it was profit taking bcos this stock has risen alot and those who bought earlier take profit.
bullrider_21 OP Jackie Toh : Not u-turn. This is a turnaround story after emerging from debt restructuring, It is still undervalued compared to its peers. Its uptrend is still intact. There will be pullbacks and bouts of profit-taking. But it may continue to rise.
Jackie Toh bullrider_21 OP : hopefully, there is a surprise on the upcoming result
bullrider_21 OP Jackie Toh : Hopefully.