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Bank of America Securities: Reiterates "Buy" rating on COSCO Shipping Holdings (01919), raises target price by 3.8% to HK$19.25

智通财经2021-08-18

According to Zhitong Finance APP, Bank of America Securities released a research report stating that it reiterates...COSCO Shipping Holdings(01919) has a "Buy" rating, with a target price increased from HK$18.53 to HK$19.25, and an upward revision of its 2021-22 earnings forecast of RMB20 billion to reflect the latest container market.

The bank indicated that the company's preliminary results have disclosed a net profit of RMB 37 billion in the first half of the year. Therefore, after seeing the fee outlook in the coming weeks, it believes that the peak period has not yet arrived, as logistics bottlenecks and strong demand seem to continue until next year's Lunar New Year. Therefore, it believes that profits are expected to improve further, and dividends are expected to be paid again.

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