Target Price: PHP 34.95
Last Traded Price: PHP 31.00
P/E Ratio: 9.14
P/B Ratio: 0.95
Support: PHP 29.75
Resistance: PHP 31.68 – 33.50
MTD Performance: 4.38 %
YTD Performance: 10.12 %
- FGEN LNG Corporation signed a 10-year Time Charter Party with Svitzer to provide towage and other vessel support services.
- The primary trend is up, with the 50-day EMA acting as immediate support.
FGEN LNG Corporation, a wholly-owned subsidiary, announced the signing of a 10-year Time Charter Party with Svitzer for the supply of towage and other vessel support services for FGEN LNG’s Interim Offshore LNG Terminal (Project). (The PSE Edge)
We are not seeing a significant effect from this, but we believe it is critical for their Offshore LNG Terminal Project to complete. This is a significant undertaking for FGEN. Furthermore, we anticipate increased demand by the time FGEN LNG is formally introduced.
FGEN, in our opinion, would be a smart long-term investment due to its promising potential in the energy market. Despite the upswing movement, the firm remains cheap in terms of price to book value.
FGEN’s immediate support would be the 50-day EMA, which is now at P29.75. Meanwhile, resistance is set at P31.68, followed by P33.50. The primary trend is higher, with a likely continuation if it remains above the 50-day and 200-day moving averages.
Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.