NOL

NOL: Nomura lifts target to $2.30 from $2.20, after raising FY10-12 earnings forecasts, but downgrades to Neutral from Buy on limited upside from current levels. Notes company posted 2Q10 net profit of US$100m vs US$146m loss yoy, aided by higher freight rates, volumes, cost savings. But says current price already factors in container shipping group's return to profitability. Believes container freight rates may have peaked and could potentially decline by end of the year.