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<Research>M Stanley Estimates OOIL Shr Price to Underperform Mkt in 15D, 70-80% Likely
Recommend 12 Positive 27 Negative 12 |
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Morgan Stanley issued a research report, predicting that the share price of OOIL (00316.HK) will underperform the market in the next 15 days, with a 70%-80% chance of the scenario. The broker pointed out that OOIL's parent company, COSCO SHIP HOLD (01919.HK), already announced its 1Q24 results. It forecast that OOIL's 1Q24 profit will tumble YoY, underperforming COSCO Shipping Lines. Due to the expected spot market rate hikes, OOIL's share price has been outperforming the market since 17 April, Morgan Stanley said, foreseeing that its share price will react negatively to COSCO SHIP HOLD's 1Q24 results. The broker rated OOIL at Underweight with a target price of $75. AAStocks Financial News |
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