Summary
[CITIC Construction Investment: COSCO Shipping Holdings’ second quarterly report slightly exceeded the expected target price of 38 yuan]The CITIC Construction Investment research report pointed out that COSCO Shipping Holdings disclosed its performance forecast and expected the company’s net profit in the first half of 2021 to be approximately 37.09 billion yuan. The net profit in the second quarter was approximately 21.6 billion yuan, slightly higher than our previous forecast of 20 billion yuan in net profit. Looking forward to the third quarter, the company’s performance may still exceed expectations. The impact of the temporary shutdown of ports in South China in May will gradually appear in the next few months, and its actual impact may far exceed the Suez Canal incident. Superimposed on the traditional peak season of the third quarter, the European and American routes will usher in a new round of price increases in mid-July, driving the company’s continuous improvement in performance. Continue to maintain the company’s “Buy” rating with a target price of 38 yuan. (Interface News)
China SecuritiesResearch reportPointed out thatCOSCO SHIPPINGDisclosurePerformanceForecast, the company is expected in the first half of 2021Net profitAbout 37.093 billion yuan. The net profit in the second quarter was approximately 21.6 billion yuan, slightly higher than our previous forecast of 20 billion yuan in net profit. Looking forward to the third quarter, the company’s performance may still exceed expectations. The impact of the temporary shutdown of ports in South China in May will gradually appear in the next few months, and its actual impact may far exceed the Suez Canal incident. Superimposed on the traditional peak season of the third quarter, the European and American routes will usher in a new round of price increases in mid-July, driving the company’s continuous improvement in performance. Continue to maintain the company’s “Buy” rating with a target price of 38 yuan.
(Article Source: Interface News)
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