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<Research>HSBC Research Elevates OOIL TP to $95, Prefers COSCO SHIP HOLD
Recommend 23 Positive 51 Negative 25 |
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OOIL (00316.HK)'s short-term outlook improved on the back of strong 1Q24 operating results from its peers and higher freight rates, HSBC Global Research issued a research report saying. HSBC Global Research estimated that the Red Sea crisis will continue this year, and more than doubled the Company's earnings forecast for 2024. HSBC Global Research maintained its dividend payout ratio forecast at 40% to reflect its dividend policy from 2024 to 2026, and elevated its target price from $80 to $95, with rating reiterated at Underweight. HSBC Global Research preferred COSCO SHIP HOLD (01919.HK), with a target price of $11.5 and rating at Buy, due to its attractive valuation and better earnings visibility as a result of its magnificent 1Q24 results. AAStocks Financial News |
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