COSCO SHIPPING Energy Falls Over 4% Post-Results; M Stanley Says Market Largely Priced In Pessimistic Outlook on Strait of Hormuz

COSCO SHIPPING Energysaw its shares fall over 4% despite reporting a 27% increase in 1Q revenue and a 207% surge in net profit to RMB2.173 billion. The stock opened 1.75% higher but closed down 4.12% at HKD17. Analysts at M Stanley noted that the market has largely priced in a pessimistic outlook regarding the Strait of Hormuz, which could impact future earnings. They maintain an "Overweight" rating with a target price of HKD26, citing an attractive risk-reward profile.