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Dahua Jianxian: Downgrades cosco shipping holdings rating to hold with a target price of 13.28 Hong Kong dollars
Dahua Jixian published a research report stating that the profit forecast for cosco shipping holdings (01919) in the 2025 fiscal year has been raised by 36% to reflect the higher overall average marine transportation freight rates in 2025 and the high operating leverage of shipping companies. The firm prefers Orient Overseas (00316) and maintains its "buy" rating with a target price of HK$130, but downgrades cosco shipping holdings to "hold" with a target price of HK$13.28. Dahua Jixian pointed out that the latest economic indicators show a weakening global trade outlook, with the sub-index of new export orders further slipping into contraction territory. Due to the escalation of tensions in the Middle East, marine transportation freight futures prices have rebounded in recent days.
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Major bank rating | JPMorgan: Industry forecasts show that future shipping demand will slow down in the coming months, lowering Orient Overseas target price to HK$166.
According to the industry forecast, the demand is expected to slow down in the coming months, but it is anticipated that freight rates in the fourth quarter will not have a significant adjustment. Looking ahead to 2025, the industry's supply and demand imbalance situation may improve.
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The Five-year Shareholder Returns and Company Earnings Persist Lower as China Merchants Port Holdings (HKG:144) Stock Falls a Further 5.3% in Past WeekNo Data
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