DBS: Raising COSCO Maritime Holdings (01919) Target Price to HK$18.4 to Maintain “Hold” Rating

The Zhitong Finance App learned that DBS released a research report stating that COSCO Marine Holdings (01919) raised its 2026 revenue and profit forecast by 5% and 38% to reflect the first-half performance over expectations and higher freight assumptions. The target price was raised from HK$14.2 to HK$18.4, maintaining a “holding” rating based on the 2027 forecast market account ratio of 1 times. The company predicts a dividend rate of around 6% in 2026, providing downside support. COSCO Marine Holdings's net profit for the first half of the year reached RMB 13.4 billion, down 24% year on year. The performance was superior to the forecast, mainly benefiting from a stronger than expected rebound in freight rates in the second quarter. Management expects freight rates to remain high in the third quarter and gradually decline in the fourth quarter as freight growth slows down.