HK-listed Kerry Logistics hits 6-week high on Daiwa rating upgrade

KLN Logistics

02/07/2020 06:10

** Shares of Kerry Logistics Network  0636.HK  rise as much
as 8% to HK$11.12, their highest since May 21
    ** Stock of the logistic services provider marks biggest
intraday pct gain since March 31
    ** Brokerage Daiwa upgrades Kerry Logistics to "buy" from
"outperform" and lifts target price to HK$13.50 from HK$12.50,
saying it revises up the firm's earnings estimates to reflect
better-than-expected business recovery despite the pandemic 
    ** As of last close, stock down 23% this year
    ** Kerry Logistics has underperformed the Hang Seng Commerce
& Industry Index sector  .HSNC  by 8.8 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 2%, while the benchmark index  .HSI  gains 1.5%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)