Guotai Haitong: COSCO Shipping Energy Transportation (01138) expected to achieve record high profits in 2025, with a target price of 20.26 Hong Kong dollars.

Haitong Securities releases research report, stating that the oil shipping industry has been continuously improving for four years. They expect COSCO Shipping Energy Transportation (01138) to achieve a new high in profits by 2025, with a significant increase in performance in the first quarter of 2026 compared to the previous year. The bank predicts that the oil shipping industry will continue to outperform expectations in the coming years, with ample flexibility in profitability for foreign trade oil shipping. They have set a target price of 20.26 Hong Kong dollars for the company and maintain a "buy" rating. Taking into consideration factors such as the lag in profit for COSCO Shipping Energy Transportation and losses from the dismantling of old ships, the bank has lowered the net profit forecast for 2025 to 4.5 billion yuan while maintaining the forecast of 6.6 billion yuan for 2026 and predicting it to reach 7 billion yuan by 2027.