Daiwa issued a report indicating that COSCO Shipping Ports (01919.HK) delivered robust operational performance in the third quarter of 2025, providing substantial shareholder returns through share buybacks and dividends. However, earnings pressure is expected to intensify in 2026. The firm downgraded its rating from 'Outperform' to 'Hold' due to the lack of catalysts for share price growth, weak earnings outlook, and limited upside potential for the target price, which remains unchanged at HK$14.
The firm noted that COSCO Shipping Ports demonstrated solid operational performance in the third quarter of 2025. Daiwa raised its 2025 earnings per share forecast by 18% to reflect better-than-expected third-quarter results. However, based on adjustments to freight rate and volume forecasts, the earnings per share predictions for 2026 to 2027 have been revised downward by 23% to 47%.
