Brokers' Take

Cosco Corporation

DBS EXPECTS COSCO TO WIN MORE PROJECTS

DBS VICKERS, July 20

DBS Vickers says it is impressed with the pace of developments in the shipyards operated by Cosco Corp in China, after a visit to the facilities in Dalian and Zhoushan. It now expects Cosco to attract more 'single hull' ships heading for 'double hull' conversion. It notes that Cosco is also moving rapidly to penetrate the rig-building market. DBS has a price target of $1.61.
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