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<Research>G Sachs Raises COSCO SHIP ENGY (01138.HK) 2026-2028 Earnings Forecasts by 3-4%, Adds TP to $30
Recommend 6 Positive 16 Negative 9 |
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COSCO SHIP ENGY (01138.HK)'s 1Q26 results slightly beat the lowered market expectations, Goldman Sachs released a research report saying. Excluding an one-off disposal gain of RMB126 million, quarterly adjusted net profit was RMB2.1 billion, slightly above the market consensus of RMB1.8-1.9 billion. As a large number of LR2 tankers switched to transporting dirty oil, effective capacity declined and product tanker freight rates elevated, the broker noted. As a result, Goldman Sachs raised its 2026-2028 earnings forecasts by 3-4%. Goldman Sachs added its target price for COSCO SHIP ENGY's H-shares to $30 from $29, mainly due to an expected increase in return on equity, which led to a higher target PB ratio for H-shares to 2.5x from 2.4x, with rating kept at Buy. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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