JPMorgan: Reiterates "Overweight" Rating on COSCO Shipping Energy (01138.HK), Recommends Buying on Dips

Zhito Finance APP has learned that JPMorgan issued a research report reiterating its "Overweight" rating on COSCO Shipping Energy Transportation (01138.HK), with a target price of HK$29, and recommending that investors buy on dips. It pointed out that VLCC freight rates softened for most of last week, which is believed to be due to the easing of extreme logistics bottlenecks that began in September. By last Thursday (the 1st), freight rates rebounded, reflecting stronger underlying cargo demand rather than merely a recurrence of port congestion.