Stock Track | COSCO SHIP ENGY Soars 5.09% Intraday on Strong Q1 Earnings, Analyst Upgrade and VLCC Super-Cycle Optimism

Stock Track05-08

COSCO SHIP ENGY's stock price surged 5.09% during intraday trading on Friday, reflecting strong investor confidence in the company's recent performance and future prospects.

The movement follows the company's report of robust first-quarter results, with revenue reaching RMB 7.303 billion, a 26.9% year-over-year increase, and net profit attributable to shareholders soaring 207.09% to a record high of RMB 2.173 billion. A key driver was the performance of its foreign trade oil shipping segment, where gross profit skyrocketed 317.6% year-over-year to RMB 2.24 billion, primarily fueled by sharp increases in freight rates triggered by geopolitical events.

Adding to the positive sentiment, Goldman Sachs raised its earnings forecast for the company by 3%-4% and increased its H-share target price from HK$29 to HK$30, maintaining a Buy rating. The investment bank cited a VLCC (Very Large Crude Carrier) super-cycle driven by tight shipping capacity, positioning COSCO SHIP ENGY as a primary beneficiary. The market appears to be pricing in expectations of sustained strength in mid-to-long-term freight rates.

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