Singapore Stock Watch

Cosco Corp: 99 cents | Underweight
HSBC maintains its call for Cosco Corp but cuts its from 55 cents target price to 42 cents, after the ship builder issued a profit warning last week. HSBC also cuts Cosco Corp's FY08, FY09 earnings estimates by 24% and 50% respectively, to reflect expectations that more ship buyers will delay deliveries and that the company will face higher costs.