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<Research>BofAS Drops Profit Forecasts for COSCO SHIP ENGY by Avg. of 20% Over Next 3 Yrs, Cuts TP to $7.5
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BofA Securities lowered its 2025-2027 EPS forecasts for COSCO SHIP ENGY (01138.HK) by an average of 20%, reflecting 1Q25 results. The broker cut its target price to $7.5 from $8.75 set at 0.9x of net asset value (NAV), with rating at Buy, taking into account 2026 ROE forecast of 7.4%. COSCO SHIP ENGY's quarterly results missed the predictions of BofA Securities and the market, mainly due to weak international rates and higher charter costs, according to BofA Securities. The broker anticipated profitability to improve QoQ in the current quarter as market rates strengthen, and projected 2H25 earnings to be broadly flat compared with 1H25. AAStocks Financial News |
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