CWT

CWT: Annouced that it has not been approached to sell its business to Glencore, the world's largest commodity trader. Glencore's aim to boost its presence in warehousing by combining its recently acquired Pacorini unit with an outside partner, increasing speculation that the target could be CWT. Glencore last Sept completed its purchase of the metals warehousing division of Pacorini…..

We note that Street has a unaminous Buy Call on counter with a mean TP of $1.54, tipping the commodity focused logistics operator to continue benefitting from a growing rise and hunger for commodities/energy globally.