Barclays Capital upgrades NOL rating
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
BARCLAYS Capital has upgraded its rating for the stock of Neptune Orient Lines (NOL), saying it sees value emerging for the counter. Since it was revealed on Aug 21 that the Singapore shipping group was considering the potential sale of its profitable logistics unit, NOL's share price has declined 20 per cent, said the brokerage house.
"We upgrade our rating for NOL to 'overweight' from 'equal weight'. Since we initiated coverage on the company in October 2010, this is the first time we have had an 'overweight' rating," Barclays analysts Jon Windham and Esme Pau wrote in a report on Tuesday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
