Cosco (F83.SG) is off 0.7% at $1.50 as broad market retreat prompts mild profit-taking after yesterday’s 4.1% rally driven by company’s US$440 million ($613 million) orders to build 15 bulk carriers for European ship owners, says Dow Jones.

Selling not widespread as volume mere fraction of yesterday’s 34.1 million shares. Price expected to hold above this week’s lowest close of $1.40.

“We believe that news can only get better,” says CLSA, which has Buy call with $2.10 target. “Cosco is a stock that reacts to order wins and order-win expectations, and there is a tendency for the latter to increase very rapidly following a series of new contract wins.”