Thursday, June 3, 2010

Straits Asia

OCBC Research upgraded SAR to Hold from Sell citing recent price correction has factored in negative news, including weak 1Q10 and possible 2Q10 results but expects earnings recovery in 2H10 as efforts to replenish inventories, build coal-loading facility should contribute to earnings from 2H10. Softer oil prices also positive as fuel accounts for substantial portion of SAR's production costs. Raises target price to $1.82 vs $1.80.

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