Hong Kong: Investment bank Jefferies’s latest transport report has kept Hong Kong’s OOIL as its top liner pick among listed Asian containerlines. OOIL is the listed parent of OOCL.
“OOIL has been a more popular short (by turnover percentage) in HKSE particularly before its recent results e.g. July, October last year, and again recently on Feb 7,” Jefferies noted, adding: “Operationally, OOIL did better than most of its Asian liner peers although it has underperformed its own track record at interim 2013. We view OOIL as a good operator that has just had a bad year and hence see the 30% discount to book value a bargain.”
Jefferies has added two more container shipping stocks, China Shipping Container Lines (CSCL) and Japan’s K Line to its buy basket last week. [18/02/14]