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<Research>G Sachs Raises COSCO SHIP ENGY (01138.HK) 2026-2028 Earnings Forecasts by 3-4%, Adds TP to $30
Recommend 6 Positive 9 Negative 4 |
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COSCO SHIP ENGY (01138.HK)'s 1Q26 results slightly beat the lowered market expectations, Goldman Sachs released a research report saying. Excluding an one-off disposal gain of RMB126 million, quarterly adjusted net profit was RMB2.1 billion, slightly above the market consensus of RMB1.8-1.9 billion. As a large number of LR2 tankers switched to transporting dirty oil, effective capacity declined and product tanker freight rates elevated, the broker noted. As a result, Goldman Sachs raised its 2026-2028 earnings forecasts by 3-4%. Goldman Sachs added its target price for COSCO SHIP ENGY's H-shares to $30 from $29, mainly due to an expected increase in return on equity, which led to a higher target PB ratio for H-shares to 2.5x from 2.4x, with rating kept at Buy. Auto-translated by AI AASTOCKS Financial News |
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