COSCO SHIP ENGY Surges Over 6% in Morning Trading as Bank of America Securities Maintains "Buy" Rating

Deep News

Oct 10

COSCO SHIP ENGY (01138) saw its stock price climb 6.48% in morning trading, currently trading at HK$9.20 with a turnover of HK$266 million.

OPEC+ will begin increasing crude oil production by 137,000 barrels per day starting in November, representing a relatively moderate production increase. Zheshang Securities noted that regarding oil transportation, OPEC+ production increase expectations, combined with peak season demand and low base effects, make this year's peak season promising.

Bank of America Securities previously stated that COSCO SHIP ENGY's first-half operational performance largely met expectations, with net profit exceeding forecasts mainly due to one-time gains. The firm has raised its earnings forecasts for 2025-2027 to reflect the tailwinds that OPEC+ production increases and tightening U.S. sanctions will bring to the crude oil tanker market. The firm maintains its "Buy" rating, believing the group will be a major beneficiary of the oil tanker market recovery.

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Zheshang Securities noted that regarding oil transportation, OPEC+ production increase expectations, combined with peak season demand and low base effects, make this year's peak season promising.</p>\n<p>Bank of America Securities previously stated that COSCO SHIP ENGY's first-half operational performance largely met expectations, with net profit exceeding forecasts mainly due to one-time gains. The firm has raised its earnings forecasts for 2025-2027 to reflect the tailwinds that OPEC+ production increases and tightening U.S. sanctions will bring to the crude oil tanker market. The firm maintains its \"Buy\" rating, believing the group will be a major beneficiary of the oil tanker market recovery.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0188","symbol_name":"融资融券","start_time":0,"source_url":"","article_id":"1120833464","we_media_id":"1039043262","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1120833464","pubTimestamp":1760068849,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Deep News","introduction":"Global Stock Market Deep Analysis","home_visible":1,"id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"summary":"COSCO SHIP ENGY (01138) saw its stock price climb 6.48% in morning trading, currently trading at HK$9.20 with a turnover of HK$266 million. 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