Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Maybank raises target on NOL

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-Maybank raises target on NOL Jun 28th 2012, 02:39 Wed Jun 27, 2012 10:39pm EDT Maybank Kim Eng raised its target price on container shipping firm Neptune Orient Lines (NOL) to S$0.95 from S$0.85, but kept its 'sell' rating. NOL shares were down 0.9 percent at S$1.09 on Thursday and have fallen around 3 percent so far this year, underperforming the broader Straits Times Index. Maybank Kim Eng said freight rates and fuel costs have shown signs of improvement and if this continues, they would help to stabilise NOL's prospects in the near term. The broker added that NOL might even break even for the remaining three quarters of the year after a poor first quarter. NOL reported January-March net loss of $254 million, much wider than a loss of $10 million a year ago. But overcapacity in the industry looks set to last until the end of 2013 and the global economy is still uncertain, Maybank said, adding that it is sceptical about the sector's ability to continue relying on liner cooperation to sustain a freight rate recovery.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions