Shares of Yangzijiang Shipbuilding surged over two sessions after the Singapore-listed shipbuilder posted higher first-half profit and signaled optimism toward reaching its order-win goal.

The stock advanced as much as 9.3% to 4.59 Singapore dollars, equivalent to US$3.59, on Tuesday, before paring the gains slightly. That extended its 6.6% jump from Friday. Singapore's stock market was closed on Monday.

Net profit for the six months ended June climbed 28% from a year ago to a record 5.37 billion yuan, equivalent to US$795.9 million, the shipbuilder said late Thursday. Revenue increased 36%.

Yangzijiang also said it remains optimistic about its US$4.5 billion order-win target for 2026, given that its delivery slots for 2029 are nearly full.

Analysts cheered the stronger-than-expected results and affirmed outlook, noting high earnings visibility thanks to its order book.

CGS International analysts said they see a further US$700 million to US$800 million of orders linked with Seaspan Corp. in the pipeline. Yangzijiang took a stake in Seaspan's holding company earlier this year.

CGSI maintained its add rating and S$5.10 target price, citing clear earnings visibility and the attractive risk-reward profile of its stock.

Citi analyst Luis Hilado said the company's revenue could strengthen in the second half as it works through higher-priced orders. The bank raised its 2026 revenue projection by 16%.

Still, the sustainability of the upward momentum in Yangzijiang's share price "will be tied to the next batch of significant order wins coming sooner than later," he wrote in a note. Citi raised its target price to S$5.16 from S$4.88 and retained its buy rating.