SINGAPORE (Oct 5): NRA Capital has assigned an “overweight” rating to Pan-United Corporation with a fair value of 70 cents, following the company’s $29.92 million divestment of two wholly-owned subsidiaries in its tug and barge business.
(See Pan-United to sell tug and barge business to founding family for $29.9 mil)
“Typically, we do not assign a rating for companies that we have yet to initiate coverage on. However, we opine that Pan-United is a quality company that deserves an Overweight rating,” says NRA analyst Liu Jinshu in a Wednesday report.
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