NOL: Deutsche cited that investors are better to look elsewhere for positive returns, amid the challenging container shipping outlook, with demand growth of 4% still below supply growth of 5.4% in 2016.
While there has been a share price floor at the $1.23 level from the CMA CGM offer, the deal is still subject to anti-trust clearances in the US, EU and China, and there is still risk that it may not happen.
The house calls for investors take money off the table, reiterating its top buy picks in Singapore being DBS, City Development, ComfortDelgro, ST Engineering and M1.
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