[ET Net News Agency, 12 February 2020] Morgan Stanley resumed coverage Kerry Logistics
Network Limited (KLN)(00636) with an "equal-weight" rating and target price HK$12.2.
It said KLN is a leading logistics services provider in Asia, operating over 70mn square
feet of logistics facilities in 53 countries. Morgan expects KLN's China operation
recovery to continue in 2020-21, driven by fast development in the cold chain and
pharmaceutical logistics segments.
In addition, the planned IPO of Kerry Express Thailand is likely to be completed in 1H
(according to the company), which could be value-accretive for KLN, Morgan said. (KL)