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Merrill says buy CCH in upgraded forecast.
(From Lloyds List)
INVESTMENT house Merrill Lynch upgraded its forecast for China Cosco Holding from neutral to buy, writes Keith Wallis in Hong Kong.
The move followed confirmation that the company had inked an agreement with its parent about taking over control of some or all of Cosco's bulker fleet.
'If China Cosco succeeds, it will transform itself into a shipping conglomerate, a strategy that we like,' the bank said in a research note.
The re-rating of China Cosco came ...
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