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<Research>Citi Upgrades COSCO SHIP HOLD to Buy w/ TP Raised to HKD15.9
Recommend 6 Positive 11 Negative 6 |
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While the market's investment sentiment towards the container shipping industry remained bearish until the end of 2025 owing to concentrated demand in 1H25 and the eventual reopening of the Suez Canal, Citi's research report highlighted its still-positive outlook on the risk-reward profile of Asia-Pacific shipping companies. Citi stressed that Asia-Pacific shipping companies are currently attractively valued with forecasted 2026 P/B ratios ranging from only 0.6 to 0.8 times. At the same time, the overall net cash level of the industry is providing support. Accordingly, Citi decided to upgrade COSCO SHIP HOLD (01919.HK)'s rating from Sell to Buy and lift its target price from HKD12.1 to HKD15.9. AAStocks Financial News |
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