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<Research>HSBC Research Cuts OOIL (00316.HK) TP to $90, Trims Earning Forecasts
Recommend 11 Positive 24 Negative 16 |
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A report from HSBC Global Research highlighted that OOIL (00316.HK) charted a 2H24 EBIT sharply below the forecasts of the market and the broker, with an EBIT margin of 26%, below the industry average of 33%. While recent geopolitical uncertainties and shifting trade patterns have cushioned the sharp freight rate decline in 1H25, the supply-demand balance suggests a prolonged downcycle. The broker anticipated that the company’s management will shed light on capacity management strategies, progress in current contract price negotiations, and the impact of global trade tensions during this morning’s (14th) results briefing. HSBC Global Research lowered its profit forecasts for the company by 6-10% for FY2025 and FY2026, revising down EBIT margin projections to 4.6% and 8.8%, respectively. It also cut the target price on OOIL from HKD95 to HKD90, maintaining a Reduce rating. AAStocks Financial News |
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