[ET Net News Agency, 20 November 2020] Daiwa Research lifted its target price for COSCO
Shipping Ports (CSP) (01199) to HK$7 from HK$6.2 and maintained its "buy" rating.
The research house said CSP will continue to increase revenue by strengthening marketing
and negotiations and maximising synergies with its parent, and trim operating costs, thus
lifting terminal profits.
It will maintain its dividend payout at 40% and possibly pay a second interim dividend
in lieu of a final dividend in order for shareholders to receive a dividend earlier.
Daiwa cited management seeing the signing of the Regional Comprehensive Economic
Partnership (RCEP) supporting the economic development of Southeast Asia, with the company
also looking for M&A targets in the region. (KL)