COSCO SHP SG    Last:0.127    +0.003

CoscoCorp

TP to buy: $3.2 ~ $3.4

happy fishing..... cheers....

 

any ta on cosco?

 

Any one going for bottom fishing for this???

 

Only to risk from 4.05 to3.85 ( the bottom or support to say) which is 20ct per lot and if below that pls throw!!! i am now trying to catch i hope not a dropping knife...... cheers Hope i am right about a technical rebound in days to come.

 

cheers

 

I am not against your posting.  In fact it is very good, at least we are aware that MS has downgraded Cosco.  I am just pointing the flaws of MS projections. Of course, they may have their own "hidden agenda", it is up to punters to believe.   

 

Oh c'mon, 6-14% revision is considering alot considering the earning are in hundreds of millions and billionse etc.. Well toking is free.. so wat u r toking is free too..

but at least, they TP are derived from a discounting model and based on FA... unlike ppl like you and me just giving TP without any judifications or purely TA... Well again, it's up to individuals to believe in the report or not..

I am just posting up for ppl to have reference if they r considering selling or buying the counter.. no inducing anyone to buy or sell.

 

I shall downgrade Morgan Stanley immediately.

 

What are they talking about ? Ma Cheam Suka Suka, I know talking is free.  It is ridiculous to cut a target share price by 33% ($9 to $6) due to earnings revision of 6-14 percent. Now I understand where the money from the brokerage goes to.  Incompetent is the word.  

 

just shortly after my post.. morgan stanley downgrade TP from $9 to $6 on earning revision..

COSCO Singapore price target cut to 6 sgd on earnings revision - Morgan Stanley      2/25/2008 4:02:00 PM

SINGAPORE (Thomson Financial) - Morgan Stanley said on Monday it has lowered its target price for COSCO Corp (Singapore) to 6.00 Singapore dollars per share from 9.00 dollars, reflecting the reduction in its earnings estimates for the Chinese shipyard and bulk shipping operator. "Our price target revision is mainly due to earnings revisions to the tune of 6-14 percent over the next three years, owing to lower margin and lower contract expectations," Morgan Stanley said in a client note. The brokerage is keeping its "overweight" rating on the stock "We still expect COSCO to deliver 29 percent earnings CAGR (compound annual growth rate) over 2007-2010, based on a 75 percent increase in docking capacity and additional offshore projects driven by high oil prices," it said The brokerage estimates COSCO Singapore will post a net profit of 580 million dollars this year from 337 million dollars last year, 653 million dollars in 2009, and 731 million dollars in 2010. Upside catalysts for the stock this year include a likely divestment of COSCO's shipping assets to China COSCO and the purchase of a 19 percent stake in COSCO Shipyard Group, which could add 40 cents to its target price for the stock, Morgan Stanley said At 3.40 pm, COSCO Singapore was up 4 cents or 1.0 percent at 4.25 dollars, with 6.4 million shares traded. (1 US dollar = 1.40 Singapore dollars) yuinmunn.szetoh@thomson.com MMMM

 

BTW analysts are expected to see GDP growth to slow down in both China and India as well.. Shipping is a highly competitve sector and hence they are subjected to competitive pricing.. unlikely for them to transfer the cost to clients so easily..

Retailers are the one getting hit by inflation.. since when can retailers pass on the cost to retailers.. to a great extent, they r in a perfect comp environment. Unless u are toking abt retail targeting niche market. If economy slow down together with inflation, retailers' profit will be squeezed even more cos they have to give more discounts despite rises in raw materials to attract consumers.. petrol companies are exception cos they work as a cartel..

Read some economics text and u know wat i m toking abt.

 

Firstly US is not the only importers.  Just like investments, u divide by sectors North, South, East, West.  The new world is very different from the one we used to know.  Major developments have sprung up all over Asia, Africa, Europe, China, India, South America, Australia..etc.  What about SIA ? Perhaps uses much more fuel(oil) and yet not affected (in actual fact today went up 30 cents).  Why is it that inflation is so high in Singapore today ?  Every retailers added some profits along the way when raw materials goes up.  Basically they are "snowballing" their profits.  Sectors that need to be careful are : Manufacturing, Finance, and to a certain extent Properties.

 

I agree with u on SPC, but for shipping industry, with U.S importing lesser(due to economy slow down), shipping companies cant keep increasing fees right ? or else it wont be profitable for businessman to import stuff anymore. 

 

Look at SPC, when oil prices goes up, SPC goes up. Car owners suffer.  Similarly when oil goes up, Cosco should go up too, customers pay more.  The answer is simple, they probably earn more from the round up. 

 

Zanetti,

After correctly predicting oil's climb to more than $100 a barrel, legendary oilman Boone Pickens said Thursday he is shorting both the oil and natural gas markets in the belief that oil will stage a short-term pullback.

Richard Drew / AP Boone Pickens

"I think oil's going to back off," he said, during an interview on "Squawk Box." 

"The weakest quarter is the second quarter.  We'll drop $10 or $15 a barrel in the second quarter.  I think we'll be back above $100 in the second half of the year."

"I think natural gas prices are unusually high now, and I think they're going to back off, also," he added.

 

Cosco can chiong, simply pass the cost to customers just like out GST hike.

 

how can cosco chiong when oil prices keep going up ?

 

Despite the subprime credit crunch,.etc shipping will continue to perform well in fy2008.  Commodities boom will continue to add boost to shipping companies.  Surge is just around the corner.  DBI surge is positive for Cosco. 

 

TA outlook is bearish... Acc/Dist and Chaikin downtrending.

 

just buy n hold..good stocks will show their true colors..

just like SPC..no reason stock fall to $5 not too long ago..look at it now!..

 

Both broking hse lower targert price abu 30%...I think it is game over for me for buying at $4.6...prepared to cut loss if drop further...sob sob sob...

 

COSCO Singapore lower as brokerages cut target prices on rising risks      2/22/2008 10:58:00 AM

SINGAPORE (Thomson Financial) - Shares in COSCO Corp (Singapore) were lower Friday because of the increased threat to the Chinese shipyard operator and bulk shipping line's earnings posed by rising costs and a potential slowdown in orders The stock fell even though the company reported forecast-beating results for 2007 COSCO Singapore said yesterday its 2007 net profit jumped 64 percent to a record 336.6 million Singapore dollars, boosted by its strong shipyard operations. The company has a a positive outlook, with an order book for vessels worth 6.5 billion US dollars that will be progressively delivered through the first quarter of 2011 Merrill Lynch is keeping its "buy" rating for COSCO Singapore but has reduced its price target to 7.05 Singapore dollars a share from 10.10 dollars to reflect the reduced risk appetite in the market. "The group faces rising wage and raw material costs but believes it could mitigate the impact through [a] cost pass-through mechanism, hedging and better operational efficiencies," Merrill Lynch analyst Eddy Loh said in a note DBS Vickers Securities has lowered its target price for COSCO Singapore to 6.70 dollars from 9.50 dollars to impute rising steel and labor costs, and following the de-rating of the sector due to rising operational risks "Steel prices rose 37.4 percent last year and 8.8 percent year-to-date," said DBS Vickers analyst Janice Chua. "Given that 20 percent of its shipbuilding cost is in steel, we estimate a 10 percent rise in steel prices will impact its net profit [negatively] by 4 percent." DBS Vickers is keeping its "buy" call on COSCO Singapore as the stock offers good upside potential at current prices. CIMB-GK, which has an "outperform" rating for COSCO Singapore, believes rising labor and raw material costs will have a limited impact on its margins as the group enjoys better operating leverage from higher project volume "COSCO is scheduled to deliver 10 bulk carriers and some high value offshore/conversion contracts in 2008 ... which could underscore significant revenue recognition," the brokerage said in a note. "We upgraded our 2008 earnings estimates by 3 percent to account for stronger shipping income," it said. But CIMB-GK has lowered its target price for COSCO Singapore to 7.33 dollars from 9.09 dollars to reflect lower investment risk appetite in the market At 10.54 am (0254 GMT), COSCO Singapore was down 12 cents or 2.7 percent at 4.26 dollars, with 4.5 million shares traded (1 US dollar = 1.41 Singapore dollars) yuinmunn.szetoh@thomson.com MMMM