Merrill Lynch slashes earnings forecasts for Taiwan's top 3 container shippers on poor 3Q results, weak freight rates, vessel oversupply; keeps Sell on all 3: "we would not re-enter container shipping stocks until we see pricing power." Cuts Evergreen Marine 2006 estimate 91% to NT$635 million, 2007 projection 94% to NT$259 million, tips net loss in 2008 of NT$758 million. Lowers Yang Ming Marine Transport 2006 estimate 44%, 2007's 69%; cuts Wan Hai Lines 2006 EPS view 12%, 2007's 51%. Evergreen Marine down 1.6% at NT$18.80; Yang Ming Marine off 0.6% at NT$16.85; Wan Hai off 0.3% at NT$18.25. (ABP)
All news