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<Research>HSBC Research Upgrades COSCO SHIP HOLD to Buy, Raises TP to $11.5
Recommend 22 Positive 39 Negative 15 |
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COSCO SHIP HOLD (01919.HK)'s 1Q24 earnings amounted to RMB6.755 billion, down 5.23% YoY, up over 2x QoQ, HSBC Global Research issued a research report saying. The disruption in Red Sea shipment is likely to continue for most of 2024, leading to an increase in spot rates and other factors, so as to increase COSCO SHIP HOLD's earnings visibility, according to the report. HSBC Global Research upgraded COSCO SHIP HOLD from Hold to Buy, and raised its target price from $9.5 to $11.5. AAStocks Financial News |
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