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<Research>BofAS Reiterates Underperform for COSCO SHIP HOLD With Unchanged TP
Recommend 2 Positive 2 Negative 1 |
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COSCO SHIP HOLD (01919.HK)'s 2H25 results slightly missed forecasts, BofA Securities said in its research report. Despite weaker freight rates and terminal profits in 4Q25, the company kept its shareholder return strategy unchanged and declared a final dividend, with a payout ratio of 50%. While the Strait of Hormuz is adding uncertainty to the outlook, BofA Securities believes the impact of related disruptions is much smaller than that of the Red Sea incident. The current valuation of COSCO SHIP HOLD is around 0.9 times the P/B ratio, nearing the peak during the Red Sea incident. BofA Securities has maintained an Underperform rating and a target price of HKD13.5 for COSCO SHIP HOLD. AAStocks Financial News |
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