[ET Net News Agency, 16 November 2018] Deutsche Bank lowered its target price for Cosco
Shipping Port (CSP)(01199) to HK$6.5 from HK$7.5 and downgraded its rating to "sell" from
"hold".
The research house revised up its earnings forecasts over 2018-20 by an average of 20%
due to the contributions from newly-added terminals. However, it continues to be cautious
on the sector, given pre-loaded cargoes, capped tariffs and ongoing trade conflicts.
DB revised down its terminal growth expectation to 0% from 1% previously. The stock has
outperformed the market and peers in the last several months, on the parent's support (ie
buyback and more ports of call), which is one-off and has largely been completed, DB
noted. (KL)
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01199 COSCO SHIP PORT
Nominal 
4.530 +0.060 (+1.342%) Others
16/11/2018 16:01
[I-bank focus]DB cuts Cosco Shipping Port (01199) to HK$6.5
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