DBS maintained the purchase rating of COSCO International Holdings (0517.HK), raised the target price from HK$5.52 to HK$5.96, and raised the target price-earnings ratio for shipping-related assets from 6 times to 10 times. Maintaining the stock purchase rating was maintained because it is anticipated that there will be a strong re-rating catalyst in the future, an increase in the possibility of selling Ocean Real Estate shares, potential asset injection, and sustainable growth in shipping business profits.
COSCO International Holdings declined 4.37% yesterday to close at HK$4.16.