Stock Name: CoscoCorp
Company Name: COSCO CORPORATION (S) LTD
Cosco Corporation [ PDF] Juggling more than it can handleCOS SP / COSC.SI | UNDERPERFORM - Maintained | Share Price S$1.23- Tgt. S$0.92 Offshore & Marine | - by Siew Khee LIM
As Cosco scales up the offshoreladder, it is booking more provisions for cost overruns. Investors mayhave to grit their teeth as the Chinese yard faces more hiccups in execution.FY11 net profit meets expectations, at 98% of our forecast and consensus.We are concerned about its unending provisions for cost overruns and cutour FY12-13 EPS by 7-16%. We also introduce FY14 numbers. Our target priceis intact at 1.5x P/BV. Maintain Underperform.
Source: CIMB 24 February 2012
Company Name: COSCO CORPORATION (S) LTD
| Research House: CIMB | Price Call: SELL | Target Price: 1.23 |
Cosco Corporation [ PDF] Juggling more than it can handleCOS SP / COSC.SI | UNDERPERFORM - Maintained | Share Price S$1.23- Tgt. S$0.92 Offshore & Marine | - by Siew Khee LIM
Source: CIMB 24 February 2012
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