Report

Westports_Result Update 3Q22

After massively underperforming the Drewry Port Equity Index in 2021, Westport’s stock price moved in tandem with the broader equity index in 2022. The stock slumped 11.2%, in line with the 12.2% decline recorded by the Drewry’s sectorial index. At the current EV/EBITDA valuation, the company trades at a premium of 18.0% when compared with Drewry Port Equity Index, but is at a 16.1% discount from its five-year historical average. Our fair value estimate of MYR 4.08 provides an upside of 8.9% compared to the current stock price.
Underlying
Westports Holdings Bhd

Provider
Drewry Maritime Equity Research
Drewry Maritime Equity Research

Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Analysts
Ankush Kathuria

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