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<Research>M Stanley Rates 3 CN Major Airlines as Overweight, Eyeing Supply-Side Opportunities in Aviation/ Shipping/ Courier Industries
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Morgan Stanley has released a research report on the transportation industry in mainland China and Hong Kong. In the context of a still soft macroeconomic outlook, Morgan Stanley said supply-side impacts will be even more important, and this year's market will face more opportunities than risks. It will pay attention to supply chain constraints in airlines, compliance capacity tightness in the tanker shipping industry, and market consolidation progress in the courier industry. The report also highlighted certain risks in the container shipping industry due to concerns about supply surplus. For the aviation industry, Morgan Stanley has rated AIR CHINA (00753.HK), CHINA EAST AIR (00670.HK), CHINA SOUTH AIR (01055.HK), and SPRING AIRLINES (601021.SH) as Overweight, with target prices of HKD8.11, HKD4.31, HKD5.33, and RMB62.4, respectively. Regarding shipping stocks, Morgan Stanley, relatively bearish on COSCO SHIP HOLD (01919.HK) and OOIL (00316.HK), has rated both of them as Underweight. In contrast, it has given COSCO SHIP ENGY (01138.HK) and MERCHANTS SHIPPING (601872.SH) an Overweight rating. In terms of the courier industry, Morgan Stanley has rated J&T EXPRESS-W (01519.HK) as Equalweight, believing that it can expand its market share in its operating regions. AAStocks Financial News |
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