Jefferies picks China Merchants as top port stock

Shanghai: International investment banking firm Jefferies has released its sector pick for a potential cyclical rebound for the transport industry in Asia.

Jefferies said that it expects the ports sector to be supported by improving export growth to the US and Europe in 2014, and a lack of the capacity issues present in shipping.

“China Merchants International is our top pick for the sector, both in light of improving industrial fundamentals, but also on its undervalued land reserve,” Jefferies said in the report. [27/11/13]

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