Cosco - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/16	Deutsche	Cosco	0.335	0.36	Hold
02/16/16	Credit Suisse	Cosco	0.32	0.25	Underperform	PB0.7x FY15
02/17/16	DBS Vickers	Cosco	0.305	0.24	Fully Valued
03/07/16	UOB Kay Hian	Cosco	0.36	0.36	Sell
03/17/16	DIR	Cosco	0.38	0.3	Sell
04/20/16	DBS Vickers	Cosco	0.35	0.24	Fully Valued
05/09/16	DBS Vickers	Cosco	0.33	0.3	Hold	PB1x FY16
05/20/16	UOB Kay Hian	Cosco	0.325	0.36	Sell
07/15/16	DIR	Cosco	0.31	0.26	Sell
08/08/16	Credit Suisse	Cosco	0.275	0.25	Underperform
08/10/16	DBS Vickers	Cosco	0.265	0.3	Hold
11/15/16	DBS Vickers	Cosco	0.26	0.27	Hold	PB1x FY16
02/27/17	DBS Vickers	Cosco	0.28	0.27	Hold	PB1.8x FY16
05/08/17	DBS Vickers	Cosco	0.285	0.27	Hold	PB1.2x
07/21/17	DBS Vickers	Cosco	0.31	0.27	Hold
08/08/17	DBS Vickers	Cosco	0.3	0.27	Hold	PB1.2x
11/07/17	DBS Vickers	Cosco	0.355	0.33	Hold	PB1.4x