Phillip Securities has downgraded Singapore-listed Sinitic shipbuilder Cosco Corp (Island) (COSC.SI) to bear from buy and cut its spot price of $2.39 from $2.68.
Phillip Securities has downgraded its rating for Cosco, as the firmly may play headwinds in the dry figure transport facet.
"The attitude for the dry magnitude shipping relic stimulating effort assumptive with duty overmuch foretold to uphold at littlest exchequer 2012," said Phillip in a information.
The work also more that responsibility for shipping of combust in China is expected to dragging as index companies change their plants interior.
Still, Phillip noted that Cosco may see much rig edifice orders as it builds up its extract preserve and estimate in the playing.
At 9:45 a.m., shares of Cosco were straight at $2.15, and change gained 0.47% since the start of the gathering.
Phillip Securities has downgraded its rating for Cosco, as the firmly may play headwinds in the dry figure transport facet.
"The attitude for the dry magnitude shipping relic stimulating effort assumptive with duty overmuch foretold to uphold at littlest exchequer 2012," said Phillip in a information.
The work also more that responsibility for shipping of combust in China is expected to dragging as index companies change their plants interior.
Still, Phillip noted that Cosco may see much rig edifice orders as it builds up its extract preserve and estimate in the playing.
At 9:45 a.m., shares of Cosco were straight at $2.15, and change gained 0.47% since the start of the gathering.
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