[ET Net News Agency, 2 January 2024] Daiwa lowered its target price for COSCO Ship Hold
(01919) to HKD9.6 from HKD13 and maintained its "buy" rating.
The research house said given the global economic uncertainties, it expects throughput
demand to rise by 1.4% in 2023 and 2.2% in 2024, suggesting the oversupply situation will
continue in 2024E. It lowers 2023-24E EPS by 47-62% as new ship deliveries are still
likely to outweigh demand, despite the near-term supply tightness. (RC)