Yamato: Maintains "hold" rating on COSCO Shipping Holdings (01919), target price raised to 15 Hong Kong dollars.

Yamato released a research report stating that the current situation in the Middle East is extremely uncertain. The management of COSCO Shipping Holdings (01919) pointed out that although the current spillover effects are limited, the management warned that if the interruption lasts too long, the impact may worsen. The management stated that most fuel purchases are from the spot market, and it is expected that the fuel cost will increase by $10 per ton, with a cumulative increase of $78 million. COSCO Shipping Holdings is negotiating fuel surcharges with customers . The bank lowered the company's profit forecast for 2026 to 2027 by 2% to 13%, and raised its target price from HK$14 to HK$15, maintaining a "hold" rating.