HSBC downgrades container stocks as US east coast strike ends [Yahoo! Finance]
Evergreen Corporation - Class A Ordinary Share (EVGR)
Company Research
Source: Yahoo! Finance
The brokerage noted that while shipping had “thrived amid the chaos of 2024,” disruptions in the Red Sea were now unlikely to create any more pressure, and that the U.S. strike no longer presented a threat. This trend is expected to see shipping supply overshoot demand sharply in 2025-2026, and that pure-play shipping operators were likely to see increased earnings pressure from lower freight rates. HSBC downgraded Evergreen Corp (NASDAQ:EVGR) to Hold from Buy, and downgraded COSCO SHIPPING Holdings (HK:1919) and Orient Overseas International Ltd (HK:0316) to Reduce from Hold. The brokerage maintained its Buy rating on Maersk (CSE:MAERSKa), citing improving margins in its logistics business, and also maintained Buy on SITC International Holdings Co Ltd (HK:1308) on strong cost management and shareholder returns. HSBC maintained its Reduce rating on Hapag Lloyd AG (ETR:HLAG) due to its expensive valuations. Global shipping rates had surged through 2024 as disruptions and rer
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- 2/13/25 - Form SCHEDULE
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- 2/12/25 - Form SCHEDULE
- EVGR's page on the SEC website