Movement Alert|COSCO SHIP ENGY Rises 3.25% in Regular Trading, Technical Rebound After Sharp Drop Supported by JPMorgan Overweight Rating

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Yesterday

On September 30, COSCO SHIP ENGY rose 3.25% in regular trading, trading at 18.37 HKD/share, with turnover of approximately 44.36 million HKD, stabilizing notably after the previous session's over 5% decline.

On the news front, JPMorgan recently reiterated its Overweight rating on COSCO SHIP ENGY, recommending investors buy on the pullback. The bank noted that based on a daily average of USD 100,000 for its benchmark scenario, the H-share price-to-earnings ratio stands at approximately 11 times, with significant upside potential for earnings. If the average daily time-charter equivalent reaches USD 178,000, the multiple would drop to roughly 6 times.

The stock had previously surged over 80% in two months before entering a correction phase, driven by Middle East export channel recovery expectations and profit-taking. BlackRock also reduced its H-share stake from 8.62% to 5.68% in recent weeks, adding to short-term selling pressure. However, the company's first-half results remained robust, with revenue of 15.079 billion yuan, up 30.26% year-on-year, and adjusted net profit of 4.556 billion yuan, surging 140.58% year-on-year, underpinning fundamental support for the rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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