JP Morgan has upgraded shares in major container line Evergreen Marine.
Analyst Karen Li raised the Taiwanese shipowner to overweight from neutral.
At the same time the analyst’s target price has been lowered from TWD 20 to TWD 18 ($2.85) per share.
Last week Evergreen revealed a profitable start to the year with net profit of TWD 15.87m in the opening quarter, down from TWD 168.9m
