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newpasswordgameshow| Big Bank Rating| Morgan Stanley: Raise target prices and profit forecasts for Haifeng International, COSCO International and Orient Overseas

Transportation 2024-05-27 15:48 17 editor

Morgan Stanley issued a report stating thatnewpasswordgameshowRed Sea Airlines blocked and delayed the arrival of the shipping downward cycle. Supply-side risks are accumulating, but they will be absorbed in the short term by shipping diversions and strong demand.

newpasswordgameshow| Big Bank Rating| Morgan Stanley: Raise target prices and profit forecasts for Haifeng International, COSCO International and Orient Overseas

The bank raised its profit forecast for OOCL this year and next by 36% and 32%, and raised COSCO Haikong (601919)'s profit forecast for the same period by 98% and 61%. The bank also raised its profit forecast for Haifeng International this year and next by 26% and 5%, but lowered its 2026 profit forecast by 3%.

The bank significantly raised its target prices for the above three shipping stocks, and Haifeng International's target price increased from 14.newpasswordgameshow.6 Hong Kong dollars was raised to HK$18.2, COSCO Haikong's target price was raised from HK$6.5 to HK$13.2, and Orient Overseas's target price was raised from HK$75 to HK$114, reflecting the upward revision of this year's earnings forecast and the possibility of a relatively balanced bull and bear markets. The bank estimates that for every 5% increase in shipping freight rates, the profit forecast will be raised by 20% to 25%. Among them, COSCO Haikong has a higher revenue risk exposure to spot shipping freight rates.

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