Phillip Securities in Singapore fell, including China shipyard Cosco Corp (Singapore) (COSC.SI) continue to buy and reduced its target price of $ 2.39 to $ 2.68.
Phillip Securities downgraded its rating toCosco, and the headwinds facing the companyin the field of bulk material.
“The outlook for the bulk remains a challenge in the future with a surplus of tonnage is expectedto continue until at least 2012,” Phillip said in a report.
The brokerage also said that demand for the transport of coal in China is expected to slowfrom utility companies in exchange for theirplants.
However, Phillips said Cosco more orders for the construction of the platform can see how itincurred the history and reputation of the company.
At 9:45, the shares of $ 2.15 and Cosco gained0.47% since the beginning of the year.
Filed under: Singapore News | Tagged: cosco corp
However, Phillips said Cosco more orders for the construction of the platform can see how itincurred the history and reputation of the company.
At 9:45, the shares of $ 2.15 and Cosco gained0.47% since the beginning of the year.
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