Maybank Investment Bank Research views the merger of Hapag-Lloyd and UASC adding uncertainties to Westports’ outlook in 2017-2018, especially with CMA CGM signalling its intention to increasingly use the Port of Singapore Authority (PSA).
The research house said on Tuesday it, however, still sees high possibility of existing volume being retained at Westports given its competitiveness.
“On a brighter note, Westports could surprise the market with a strong 2Q16 volume growth of more than 10% on-year. Maintain earnings forecasts, Hold and discounted cashflow-derived (DCF) target price of RM4.30,” it said.
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The research house said on Tuesday it, however, still sees high possibility of existing volume being retained at Westports given its competitiveness.
“On a brighter note, Westports could surprise the market with a strong 2Q16 volume growth of more than 10% on-year. Maintain earnings forecasts, Hold and discounted cashflow-derived (DCF) target price of RM4.30,” it said.
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