Samudera Shipping riding the Covid-19 tide
Shares up 26 per cent this year, closing at a 52-week high of S$0.315 on Monday, but brokers say it remains undervalued
Add BT as a preferred sourceLisa Kriwangko
Singapore
RECENT shortages and disruptions in the shipping industry have generated interest in Samudera Shipping Line, a container shipping line serving the Asian region. The stock is up 26 per cent this year, closing at a 52-week high of 31.5 Singapore cents on Monday, but brokers say it remains undervalued.
Lim & Tan on Monday initiated coverage of Samudera with a "buy" call and a target price of S$0.49, which implies an upside potential of 55.5 per cent. Meanwhile, UOB Kay Hian (UOBKH), in an unrated note, highlighted the counter's respectable dividend yield.
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