Credit Suisse intitiates outperform on Gujarat Pipavav

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Credit Suisse initiated coverage on Gujarat Pipavav Port with an outperform rating and a target share price of Rs 66, citing high entry barriers in the container business, a stronger balance sheet and risk-reward versus peers.

“GPPV is leveraged to the fastest growing cargo segment in India -containers, and is highly exposed to the Asia trade route,” Credit Suisse said in a note.

The research house said a strong parent in Maersk Lines gives the company critical mass of volume and visibility. At 09:24 a.m, shares of Gujarat Pipavav were up 1.58 percent at Rs 58.

Reuters