Cosco Corp: Potential M&A?
- DBSV believes multiple headwinds – deferments/cancellations and cost overruns amid the downturn in the sector - have been priced in.
- While there are limited re-rating catalysts from the fundamental front in the near term, house continues to see that there is a possibility of a privatisation of Cosco by its parent in subsequent phases of restructuring of the two shipping giants.
- DBSV has a Hold with TP of $0.30.
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