Neptune Orient Lines raised to "hold", target raised to $1.01 by OCBC

Stock Name: NOL
Company Name: NEPTUNE ORIENT LINES LIMITED

Research House: OCBC

Price Call: HOLD

Target Price: 1.01

SINGAPORE (Feb 18): OCBC Investment Research has upgraded Neptune Orient Lines to "hold" from "sell" and raised its price target to $1.01 from 92 cents to factor in the US$1.2-billion sale of the company's logistics unit.

"We think the strengthened balance allows NOL to be better poised for recovery as it is able to direct focus and resources to manage the liner business," said OCBC analyst Eugene Chua.