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Investing.com - JPMorgan has initiated coverage on COSCO SHIPPING Energy Transportation (HK:1138) with an Overweight rating on its H shares and a price target of RMB12.00.
The firm assigned a Neutral rating to the company’s A shares, according to a research note released Tuesday.
JPMorgan describes COSCO SHIPPING Energy Transportation as China’s largest tanker operator and one of the leading global players in crude oil, refined product, and LNG shipping.
The investment bank highlighted the company’s scale, younger vessel profile, and rising LNG exposure as factors that offer downside protection in volatile freight markets while positioning it to benefit from a multi-year upcycle.
JPMorgan forecasts a 16% net profit after tax compound annual growth rate for the company from 2025 to 2027, supported by rate recovery, structural supply-demand catalysts, and measured fleet expansion.
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