Neptune Orient Lines cut to "sell", target raised to 92 cents by OCBC

Stock Name: NOL
Company Name: NEPTUNE ORIENT LINES LIMITED

Research House: OCBC

Price Call: SELL

Target Price: 0.92

SINGAPORE (Feb 16): OCBC Investment Research has increased its price target for Neptune Orient Lines to 92 cents from 84 cents after revising its 2015 estimates to show earnings of 0.4 US cent a share instead of a loss of 8.6 US cents a share.

The change reflects lower bunker costs, according to OCBC analyst Eugene Chua.

Even so, Chua has downgraded the stock to "sell" from "hold" on valuation grounds, citing its 22% run-up in the last two months.