G Sachs upgraded COSCO SHIP ENGY's rating due to its 1Q results slightly exceeding lowered market expectations, with an adjusted net profit of RMB2.1 billion. The firm also raised its earnings forecasts for 2026 to 2028 by 3% to 4% due to increased freight rates for product tankers. Additionally, the target price for H-shares was increased to HKD30, reflecting an expected rise in return on equity.
