Credit Suisse downgraded DP World to "neutral" as it sees trade growth slowing down for the port operator in the second half.
"Some weakness in global trade seems unavoidable according to the recent leading indicators," the brokerage said.
DP World's terminals are well positioned but about 50 per cent of the volumes in its main hub of Jebel Ali in the emirate of Dubai are made of volatile transshipment business, which has a more sensitive pricing, Credit Suisse said.
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