Marine Link
Wednesday, December 7, 2016

NOL Upgraded By Salomon Smith Barney

February 11, 2000

Salomon Smith Barney has upgraded its recommendation on shipping group Neptune Orient Lines (NPTOF) (NOL) to a buy from an outperform on the back of its new management and a strong U.S. market. Salomon said in a research report that the market had "over-punished" NOL with a sell-off following Standard & Poor's warning of interest rate risk exposure by shipping companies. "We think the market has overreacted to interest-rate fears. Given top-notch new management and still strong U.S. growth, we are upgrading our rating to buy," Salomon said. It added it was unimpressed by S&P's conclusions, adding that it was not forward looking given the change in NOL's management. Salomon said its fundamental view of NOL had not changed.


 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News