DBS sees good fundamentals & attractive value in COSCO

DBS Group Research said a recent meeting with  COSCO International's (517) management confirmed its view that its shipping-services operation remains resilient to volatile shipping cycles, with persistent target earnings growth rate between 20-30% over the next few years. 

It believes the occurrence of parental asset injections is just a matter of timing, as its parent has set a target to complete the group's restructuring plan before the end of  this year. DBS maintained its "Buy" call on the stock, with a new target price of HK$8.62, down  

from HK$10.02 previously.

Source:RamblerNews