[ET Net News Agency, 16 November 2018] Deutsche Bank lowered its target price for China
Merchants Port (CMP)(00144) to HK$18 from HK$19 and upgraded its rating to "buy" from
"hold".
The research house expects ports to continue to struggle as the potential trade war is
likely to weigh on volume while the government's intention to bring down logistics costs
will cap tariffs.
It reduced its earnings forecasts by an average of 18%. However, trading at all-time low
valuations, CMP share price has priced in most of the negatives. DB suggested that
investors start accumulating the stock. (KL)