Singapore Hot Stocks-STX OSV rises after Q4 profit doubles
SINGAPORE Feb 15 (Reuters) - Shares of Singapore-listed offshore vessel builder STX OSV Holdings Ltd jumped as much as 6.5 percent to a record after the company's fourth quarter net profit doubled.
By 0113 GMT on Wednesday, STX OSV shares were 5.8 percent higher at S$1.63 with more than 17.0 million shares traded in just 13 minutes, 1.3 times its average full-day volume traded over the last five sessions.
On Tuesday, STX OSV said its fourth quarter net profit more than doubled to 638 million Norwegian krones ($112 million) on higher orders and strong margins.
Brokerage DMG & Partners upgraded the stock to buy from neutral and raised its target price to S$2.00 from S$1.20. (Reporting by Charmian Kok; Editing by Anshuman Daga)
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