Cosco Corp target cut to 43 cents from 50 cents by Maybank Kim Eng

Stock Name: Cosco
Company Name: COSCO CORPORATION (S) LTD

Research House: Maybank Kim Eng

Price Call: SELL

Target Price: 0.43

SINGAPORE (Feb 17): Maybank Kim Eng has cut its price target for Cosco Corp from 50 cents to 43 cents, citing pessimism over the company's poor execution expected this year amid a weak offshore and ship building market.

Cosco recently reported FY14 earnings of $20.9 million, down 31.8% y-o-y.

While it posted a higher-than-expected gross margin in 4Q2014, this will not be sustainable, according to Maybank Kim Eng analyst Yeak Chee Keong, who has a "sell" call in the stock.

Cosco price target cut 24% to 38 cents by Daiwa

Stock Name: Cosco
Company Name: COSCO CORPORATION (S) LTD

Research House: Daiwa

Price Call: SELL

Target Price: 0.38

SINGAPORE (Feb 3): Daiwa has cut its price target for Cosco Corp to 38 cents from 50 cents after lowering its earnings per share estimates by 5% for 2015 and 36% for 2016 to factor in an expected increase in order cancellations.

The new target is based on 19.6 times projected 2015 earnings, versus 21.2 times previously.