Goldman Sachs lowered the target price for China Merchants Port to HKD 5.3, with first-quarter earnings exceeding expectations.

GoldenOctober2024

2025-05-06 06:02:46

Jin10 data reported on May 6th that Goldman Sachs published a research report indicating that China COSCO Shipping Ports (01199.HK) had a net profit increase of 33% year-on-year in the first quarter, but a 4% fall quarter-on-quarter, outperforming expectations, mainly driven by the group’s overseas performance. The bank raised the group’s European port throughput forecast and also increased its net profit forecast for 2025 to 2027 by 1 to 2%. After adjusting the market capitalization of listed assets, the target price was lowered from HKD 5.4 to HKD 5.3, maintaining a buy rating.

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