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<Research>UBS Upgrades COSCO SHIPPING (601919.SH) to Neutral, Raises TP to RMB15.4
Recommend 5 Positive 13 Negative 12 |
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UBS stated that the recent surprising move by China and the US to suspend mutual port service fees for a year is expected to ultimately lead to a complete cancellation of these fees, slightly favoring COSCO SHIP HOLD (01919.HK). Although the reopening of the Red Sea may pose a downside risk to freight rates, UBS believed that the group's strong cash position (equivalent to 70% of market cap) and robust dividend payout can support the stock price. UBS raised its EPS forecast for 2025-27 by 5-66%. It upgraded COSCO SHIPPING (601919.SH) to Neutral, raising the target price from RMB11.2 to RMB15.4. AASTOCKS Financial News Website: www.aastocks.com |
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