[ET Net News Agency, 8 November 2017] Jefferies Research maintained its target price
for Orient Overseas (OOIL)(00316) unchanged at HK$78.67, and downgraded its rating to
"hold" from "buy".
The research house believes OOIL's share price is driven by pre-conditional general
HK$78.67 cash offer from COSCO-SIPG, not industry fundamentals, with the offer still
pending regulatory approval primarily from EU and China.
Jefferies believes the share price is unlikely to be impacted by container shipping
freight rates until after the offer is accepted. (KL)