Westports Looks Attractive on Weakness — Market Talk

Westports should be accumulated on weakness as risks from the Middle East conflict appear largely priced in, Maybank IB analyst Loh Yan Jin says in a note. She believes these risks are already largely reflected in current forecasts and valuations, while earnings upside could still emerge if container volume momentum remains resilient. The port operator expects positive volume growth in 2Q-3Q, driven partly by front-loading activities linked to the Middle East crisis and seasonal peak shipping season, although visibility for 4Q remains limited, she notes. Maybank maintains a buy rating on Westports and keeps its target price at 6.48 ringgit. Shares are 2.9% higher at 5.98 ringgit. (yingxian.wong@wsj.com)