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Bank of America Securities: Downgrades OOIL and COSCO Shipping Holdings ratings; Bullish on SITC in the Sector.
Bank of America Securities released a research report stating that, considering the risks of a trade war from 2025 to 2028 and the potential reopening of the Red Sea, it has downgraded OOIL (00316) from "Neutral" to "Underperform" and lowered COSCO Shipping Holdings (01919) from "Buy" to "Neutral," while maintaining the rating for Evergreen Marine at "Underperform." Within the Sector, the bank is Bullish on SITC (01308) and gives it a "Buy" rating, as this stock benefits from better fundamentals in Asia, while still being optimistic about Japanese shipping stocks (preferring Mitsui O.S.K. Lines), believing that there may be better returns for Shareholders after 2024.
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