Subscribers

Brokers' take

Cosco Corp | Fully Valued

Dec 14 close: S$0.305

Target price: S$0.32

DBS Group Research, Dec 14

WE downgrade Cosco to "fully valued" with a reduced target price of S$0.32 (previously S$0.42), as we lower our valuation multiple from 0.8x to 0.6x FY16 P/BV in view of wider losses and a deteriorating outlook. There is a lack of re-rating catalysts with the elimination of privatisation angle. Cosco faces multiple headwinds - deferments/cancellations and cost overruns amid the sector's downturn.

We expect...

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes