Citi raises COSCO SHIP PORT's target price to 5.51 yuan but lowers the rating to "Neutral"

Citi published a research report stating that COSCO SHIP PORT (01199.HK) has seen its stock price rise by 36% over the past 12 months, with risk and return now tending to balance. Considering the tariff differences and the negative demand from shipping companies this year, it holds a cautious attitude towards narrowing the profit yield spread to about 6 percentage points compared to pre-pandemic levels.

The bank downgraded COSCO SHIP PORT's rating from "Buy" to "Neutral," but raised the target price from 5 HKD to 5.51 HKD