Stock Name: Goodpack
Company Name: GOODPACK LIMITED
Research House: DMG
“Given most of Goodpack’s customers operate in central and southern Japan, most of the Intermediate Bulk Containers (IBC) are ferried in and out of Japan via the Tokyo and Kobe ports which have already resumed operations,” the brokerage said in the statement.
Company Name: GOODPACK LIMITED
Research House: DMG
DMG & Partners has upgraded Singapore’s transportation and storage firm Goodpack (GPAK.SI) to buy from neutral, but cut its target price to $2.00 from $2.12
DMG has downplayed the business impact of the Japan’s earthquake crisis on Goodpack, the world’s largest owner of Intermediate Bulk Containers (IBCs), as only 8 to 9% of the firm’s revenue is attributable to Japan.
DMG has downplayed the business impact of the Japan’s earthquake crisis on Goodpack, the world’s largest owner of Intermediate Bulk Containers (IBCs), as only 8 to 9% of the firm’s revenue is attributable to Japan.
“Given most of Goodpack’s customers operate in central and southern Japan, most of the Intermediate Bulk Containers (IBC) are ferried in and out of Japan via the Tokyo and Kobe ports which have already resumed operations,” the brokerage said in the statement.
DMG added that the only customer to cancel leasing of Goodpack’s IBCs is based in Sendai, one of the worst-hit towns in Japan’s quake, but the customer accounts for less than 0.5% of Goodpack’s revenue.
At 9:58 a.m., Goodpack shares are up 3.45% at $1.80.
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