MPC Container Ships (Hold, TP: NOK14.90) - Risk/reward balanced on sell-off
Given the recent sell-off in the MPC Container Ships shares, we find the risk/reward balanced, with upside potential on the monetisation of assets given its >NOK30 NAV/share, complemented by a healthy contract backlog supporting dividends, set against our negative view of the container sector on oversupply for the foreseeable future. Hence, we have upgraded to HOLD (SELL), but reduced our target price to NOK14.9 (17.9).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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