BofA Securities raises target price of Pacific Basin Shipping (02343.HK) to 2.4 Hong Kong dollars, reiterates "neutral" rating.

date
11/08/2025
According to the Wise Finance APP, Bank of America Securities released a research report stating that Pacific Shipping (02343.HK) had a first half basic surplus of 20 million US dollars, lower than the expected 38 million US dollars. The earnings forecast for this year and next year has been lowered by an average of 16%, but the forecast for 2027 has been raised. The bank has raised the group's target price from 1.7 Hong Kong dollars to 2.4 Hong Kong dollars, reiterating a "neutral" rating for the company, believing that industry fundamentals have bottomed out and valuation is roughly in line with historical averages.