共6页 送美林081031每日外汇

Today’s Highlights: We cut our TP of COSL on lower oil price forecast but
reiterate Buy on trough valuation and higher day rates for its 2009 contracts. We
cut our TP of BoComm (Sell) on lower fee income growth outlook and signs of
asset quality deterioration. We reiterate Sell on Chalco on the expectation of much
tougher FY09 due to weaker ASPs and production cut.