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Brokers' take

Published Mon, Apr 6, 2015 · 09:50 PM

Nam Cheong | Hold

Apr 6 close: S$0.31

Target price: S$0.32

CIMB Research, Apr 5

Taking our cue from its lacklustre sales in Q1 2015, we downgrade Nam Cheong from "add" to "hold".

We concede that we were over-bullish in expecting Nam Cheong to sustain its 2014 sales momentum.

We previously expected it to sell around 30 vessels per year in 2015-17.

We…

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