[ET Net News Agency, 16 June 2021] Jefferies raised its target price for COSCO Shipping
(01919) to HK$23 from HK$17 and maintained its "buy" rating.
The research house said although short interest in COSCO has increased, it believes the
key share price driver is freight rates. However, it expects freight rates to continue
increasing in short-term and it views COSCO is the leveraged play within the sector given
higher spot exposure, especially on Asia Europe (+95% volumes on spot rates). (RC)