LabroyMar   

Labroy Marine

Stocks and factors to watch:

- Morgan Stanley has started coverage of shipbuilder and oil-rig maker Labroy Marine (LABR.SI: Quote, Profile , Research) with an "overweight" rating and a target price of S$3.40, citing robust global oil-rig demand as potential upside catalyst for its shares. [ID:nSGC001123]



- Macquarie Research has raised its price target for SembCorp Marine (SCMN.SI: Quote, Profile , Research), the world's second-largest builder of offshore oil drilling rigs, to S$6.60 from S$4.65, citing expectations of an increase in the firm's capacity. [ID:nSGC001124]

 

IT CHEONG TODAY!  

 

Yes, exactly.

When all other marine related shares sky rocket during the up-swing. Labroy is lethargic. There is definitely nothing wrong with Labroy, its worth >$3. But when? There cannot be a better time to boom then now.

SembMar has climb up more than $1 for the last 3wks. Yangzijian has climbed more than $0.40. So is Cosco.....But Labroy has yet to set sail.......

 

yes. agreed. it will soon become $3 stock. Also considering that other marine / ship building stock PER is sky high to an unbelievable level....

 

tat's when the BBs hit u.. when u think the stock is down n out..

they accumulate and push the price up...

i don't see anything wrong with labroy..good sound company..with the potential of becoming a >$3 stock..

 

 

Labroy Marine has not been very sustainable in its upward trend. It went up to 2.57 last week and closed at 2.48. Yesterday it went up to 2.59 and closed at 2.52.

Today, it does not seem to have the energy to go up to 2.55. Wonder when will it break the 2.60 barrier and hold on to it.

I remember PNB Paribas raised its target price to 3.32. That seems to be a tall order.

 

I think the fund manager and analyst till have a bullish outlook for marine oil & gas sector based on regional forecast expenditure. Labroy will sure benifits directly, if not, the spill over contracts will be awarded to labroy.  

Labroy lack of upside potential? Dont think so.....the orders will come sooner or later..

All the regional yard capacity is strecthed to limit....as companies rush to build platform, rigs, vessels etc...

Good luck... 

 

No clues ... but it sure does look poised to close the gap at $2.70. Chart and indicators starting to look slightly bullish. Could be a variety of reasons e.g. insider starting to accumulate, poised for good news, or even fund managers buying up prices so as to dump their shares at higher profit margins?

 

I'm curious what make Labroy moving upward for the past few day ?

 

 

i'm awaiting for 2.24~2.26

 

Marine oil & gas industry still growing strong...

Once Labroy delivers the rigs as planned, the orders will pour in automatically...

So far all the feedback are still promising...

Labroy is one of the cheapest ship builder in term of PE ratio.

 

Merrill Lynch downgraded Labroy Marine to "neutral".

Merrill Lynch said that the stock has minimal upside potential after its recent price surge. Labroy shares had risen more than 20% in September as investors snapped up offshore and marine stocks on bullish fundamentals outlook.

"We believe the lack of rig orders over the past 6 months also puts a damper on potential earnings upside for '08," Merrill analyst Tse Wei Choo said in a client note.

 

Today the momentum is back.


This stock is CIMB-GK's pick of the month OCTOBER......

Think it will move up further next week....

Cheers!
 

 

Pension,

Sorry, I disagree with you. Promet, founded by Brian Chang, is still around under the name of PPL......a subsidiary (85%) of SembMar. PPL is now run by Benety Chang....brother of Brian Chang.....who recently injected his 15% share of PPL into Baker Tech,

In the 1980s, Promet built many J Up and a few Semi sub rigs. They did not go belly up but struggled due to oversupply of rigs worldwide from about mid 80s to a few years back when the rig market picked up.

 

Thanks guys,

So I better stay sideline...



 

 

construction of oil rig is not so easy as what we think, if you recall promet and other company in this trade, many of them went belly up. some company cannot survive because huge fund is needed.

 

The sudden departure of KK Ng obviously indicates all is not well at the Labroy Rig Building section. KK Ng was brought in as the key person to spearhead  Labroy's drive to diversify into the rig business. His departure could be due to either a relationship problem with the chairman or the progress of the contruction of the rigs is facing problems or both.

Bear in mind that J Up rig building is not just getting a bunch of shipbuilding people to build it. It involves vastly different technology and knowhow. On board equipment are also vastly different e.g the drilling package, the jacking (elevating systems) etc. So, in the current tight market, relationship with the supplier is vital.  Design criteria of rigs are also different from ships. All this could have been a bit too much for Labroy to chew in one go.

Just my personnal opinion......not vested and no intention to do so in the foreseeable future.

 

Is this counter still worth investing?

Most marine counters up up up......

 

  SINGAPORE, Oct 1 (Reuters) - Labroy Marine  may be
in focus on Monday after Merrill Lynch cut its rating for the
stock, together with Tat Hong''s  target price upgrade by
Goldman Sachs.
 

 

ha...not only that lah...just think carefully. Why all the shipbuilding counter like Cosco and Yangzijiang up until sky....Labroy .....up and down today....very unstable...

 

 It just can't be true that one Mr. Ng leaving or taking an advisory role, will cause the collapse of Labroy Marine. This is a team effort.