BofA Securities: Raises Cosco Shipping Energy Transportation (01138.HK) Target Price to 7.9 Hong Kong Dollars, Expected to Benefit from Industry Tailwinds

Intelligence Finance APP learned that Bank of America Securities released a research report stating that COSCO SHIPPING Energy (01138.HK) performed in the first half of the year broadly in line with expectations, with net profit exceeding expectations, mainly due to one-off gains. The bank has raised its profit forecast for 2025 to 2027 to reflect the tailwind brought to the oil tanker market by OPEC+ production increases and tightening US sanctions. The bank maintains a "buy" rating, believing that the group will be a major beneficiary of the recovery in the oil tanker market, and believes that the current valuation does not fully reflect the prospects for return on equity (ROE) in 2025 to 2026; the H shares target price has been raised from HK$7.5 to HK$7.9, and the COSCO SHIPPING Energy A shares (600026.SH) target price has been raised from RMB 13 to RMB 13.6.