Asian Shipping Stocks Fall After U.S. Port Workers Suspend Strike
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 04 2024
0mins
Source: WSJ
Impact of U.S. Port Workers' Strike Suspension: Shares of Asian shipping companies plummeted after U.S. port workers ended a three-day strike, which had raised expectations for increased freight rates due to supply constraints.
Decline in Shipping Stocks: Major shipping firms such as Cosco Shipping, Nippon Yusen, and Kawasaki Kisen Kaisha experienced significant stock declines, with drops ranging from 4.8% to 9.4%.
Analyst Views on MCO
Wall Street analysts forecast MCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MCO is 569.91 USD with a low forecast of 507.00 USD and a high forecast of 620.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
10 Buy
5 Hold
0 Sell
Moderate Buy
Current: 530.240
Low
507.00
Averages
569.91
High
620.00
Current: 530.240
Low
507.00
Averages
569.91
High
620.00
About MCO
Moody's Corporation is a global integrated risk assessment company. It is a global provider of research and insights; data and information, and decision solutions, which help companies make decisions. Its MA segment provides data, intelligence and analytical tools to help business and financial leaders make decisions. MA consists of a premier fixed income and economic research business (Research & Insights); a data business powered by databases on companies and credit (Data & Information), and three cloud-based subscription businesses serving banking, insurance and KYC workflows (Decision Solutions). Its MIS segment is a global provider of credit ratings, research, and risk analysis. It publishes credit ratings and provides assessment services on a wide range of debt obligations, programs and facilities, and the entities that issue such obligations in markets worldwide, including various corporate, financial institution and governmental obligations, and structured finance securities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
