KUALA LUMPUR (June 26): CIMB Research has upgraded the shipping sector to Neutral from Underweight previously and said opportunities are aplenty for investors who look beyond the immediate horizon.
In a note Tuesday, the research house said market conditions remain challenging but those investing in good quality companies at cheap valuations would ultimately do well over the longer term.
“Pacific Basin, Orient Overseas International Ltd and MISC remain our preferred long-term bets. We have Neutral ratings on all three,” it said.