CICC has issued a research report noting that COSCO SHIP PORT's (01199) first-half results surpassed its expectations, primarily driven by a one-off reversal gain of US$54 million recognized in the second quarter.
Considering the impact of this year's one-off gains and the potential for higher-than-expected revenue per box growth over the next two years, the firm has raised its net profit forecasts for 2026 and 2027 by 21.69% and 5.2%, to US$398 million and US$370 million, respectively.
CICC maintains an "Outperform" rating on the stock. Excluding the effects of the 2026 one-off gain, the target price has been lifted by 8.45% to HK$6.16.
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