Cosco Shipping upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Herbert Lu upgraded Cosco Shipping to Neutral from Sell with a price target of HK$10.70, up from HK$7.90. The company could be a beneficiary of increasing supply chain complexity or migration, which could improve long-term return on equity expectations, the analyst tells investors in a research note. The firm says structural supply chain complexity is supportive of a higher stock valuation.