Goldman Sachs pointed out that cosco shipping holdings management revealed that due to the port strike on the US East Coast, an earlier new peak shipping season before the potential tariff increase, and an earlier Lunar New Year next year, all drove the rebound in spot freight rates.
Zhixun Finance and Economics APP learned that Goldman Sachs released a research report, upgrading its investment rating on Cosco Shipping Holdings (01919) from "sell" to "neutral." Due to the escalation of geopolitical tensions in recent years, the complexity of the shipping supply chain has increased, including some routes having longer transportation distances, which may benefit some Chinese shipping companies including Cosco Shipping Holdings from high freight rates during supply chain disruptions, driving expectations of return on equity higher and providing support for market-to-book ratio valuation.
Goldman Sachs pointed out that cosco shipping holdings management revealed that due to the port strike on the US East Coast, an earlier new peak shipping season before the potential tariff increase, and an earlier Lunar New Year next year, all drove the rebound in spot freight rates. The bank raised the valuation basis of Cosco Shipping Holdings, with its projected 2025 P/B multiple increased from 0.6 times to 0.8 times, and the target price correspondingly increased from 7.9 yuan to 10.7 yuan, maintaining its forecasts for the years 2024 to 2027 unchanged.
