Goldman Sachs Raises COSCO SHIP ENGY's Profit Forecast for 2026-2028 by 3-4%, Lifts Target Price to HK$30

Stock News04-28

Goldman Sachs has increased its target price for COSCO SHIP ENGY's H-shares from HK$29 to HK$30, citing an expected rise in return on equity that supports a higher target price-to-book ratio. The target P/B ratio for H-shares has been raised from 2.4x to 2.5x, with a "Buy" rating maintained. The bank noted that COSCO SHIP ENGY's first-quarter results slightly exceeded downwardly revised market expectations. Excluding a one-time gain of RMB 126 million from asset sales, adjusted quarterly net profit reached RMB 2.1 billion, slightly above the market forecast of RMB 1.8-1.9 billion. Goldman Sachs highlighted that a significant number of LR2 tankers shifting to dirty oil transportation has reduced effective capacity and driven up product tanker freight rates, leading to a 3-4% upward revision in profit forecasts for 2026-2028. For crude oil tankers, the bank largely maintained its forecast for VLCC average daily time charter rates at $150,000 in 2026 and $130,000 in 2027. The report suggests that the VLCC supercycle is being driven by tight capacity and reinforced by industry consolidation, with COSCO SHIP ENGY positioned as a key beneficiary.

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The...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"600026":"中远海能","BK0028":"国家队","SG9999014674.SGD":"Nikko AM All China Equity A SGD","BK0020":"浦东新区","BK0012":"证金概念","BK1166":"石油与天然气的储存和运输","BK0183":"MSCI概念","BK0188":"融资融券","BK0270":"水上运输","BK1535":"港口运输股","01138":"中远海能","EWH":"香港ETF-iShares MSCI","BK0010":"央企"},"translate_title":"高盛上调中远船机2026-2028年盈利预测3-4%目标价升至30港元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600026":1,"EWH":1,"01138":1},"content_text":"Goldman Sachs has increased its target price for COSCO SHIP ENGY's H-shares from HK$29 to HK$30, citing an expected rise in return on equity that supports a higher target price-to-book ratio. The target P/B ratio for H-shares has been raised from 2.4x to 2.5x, with a \"Buy\" rating maintained. The bank noted that COSCO SHIP ENGY's first-quarter results slightly exceeded downwardly revised market expectations. 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