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01199 COSCO SHIP PORT
RTNominal up4.300 +0.180 (+4.369%)
Others

30/10/2019 16:03

{I-bank focus}Daiwa cuts COSCO Ship Ports (01199) to HK$9.5

[ET Net News Agency, 30 October 2019] Daiwa Research lowered its target price for COSCO
Shipping Ports (CSP)(01199) to HK$9.5 from HK$11.6 and maintained its "buy" rating.
The research house said CSP's 3Q adjusted (stripping out the dilution effect on equity
interest of QPI) net profit fell slightly by 0.8%, missing Daiwa's expectation.
For 2019, CSP remains cautiously optimistic and expects to record high single-digit
equity throughput growth, driven by the growth momentum in overseas ports and synergy
effects with its shipping alliances.
Daiwa trimmed its 2019-20 net profit forecasts by 13-16% to reflect its 3Q results and
the new forecasts on volume and margins. (KL)

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