[ET Net News Agency, 17 May 2018] Jefferies Research raised its target price for COSCO
Shipping (01919) to HK$5.3 from HK$4, and upgraded its rating to "buy" from "hold".
The research house said the combination of second largest orderbook amongst global
container lines and that spot rates are rebounding could lead to earnings surprising for
COSCO.
As quarterly newbuilding vessel deliveries peaked, Jefferies turned optimistic and
estimated spot freight rates have bottomed and carriers are no longer adopting irrational
utilization-driven pricing discount strategies. Further, it estimated spot rates on key
long-haul routes to Europe and US had declined below breakeven which is normally a trigger
for carriers to switch pricing strategies. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01919 COSCO SHIP HOLD
Nominal 
11.240 +0.320 (+2.930%) Others
17/05/2018 15:48
[I-bank focus]Jefferies upgrades COSCO Shipping to HK$5.3
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |