Neptune Orient Lines raised to "outperform", target lifted to $1.20 by Credit Suisse

Stock Name: NOL
Company Name: NEPTUNE ORIENT LINES LIMITED

Research House: Credit Suisse

Price Call: BUY

Target Price: 1.20

SINGAPORE (April 16): Credit Suisse has upgraded Neptune Orient Lines to "outperform" from "neutral" and lifted its price target from $1.10 to $1.20, now based on 0.8 times book value.

With 42% of its capacity deployed on the Transpacific route, NOL has the container shipping sector's second-greatest exposure to the lane "where we see rates rising for the first time since 2010", Credit Suisse analysts Timothy Ross and Christopher Siow wrote in a note today.