Shipbuilder Cosco Corp <COSC.SI> rose as much as 8 percent to S$2.97 after a DBS report said Cosco's strong orderbook of US$1.9 billion would boost earnings for the firm in the next two years.
"We estimate about S$650 million ($424.8 million) will be recognised this year, and about S$1.7 billion recognised in financial year 2008," said DBS Vickers analyst Janice Chua.
"There is also the possibility of Cosco seeking a dual listing in China...which will narrow the valuation gap between Cosco and listed shipyards in China," added Chua, who had a "buy" rating and a price target of S$2.75 on the stock.
Dealers said interest in Yangzijiang could be spilling over to Cosco, as the latter has lagged recently. The stock has fallen 0.72 percent in the past one month, underperforming the Straits Times index <.STI> by 2.9 percentage points.
