Daiwa: Raises target price of Pacific Basin Shipping (02343) to HK$3.25, maintains "in line with the market" rating.

Wisdom Financial APP has learned that Morgan Stanley released a research report stating that it has raised its earnings forecast for Pacific Basin Shipping (02343) by 14.3%, 13.1%, and 12.2% for the years 2026 to 2028, reflecting better-than-expected performance in the spot market. The bank has raised the company's target price from HK$3.07 to HK$3.25, maintaining a "in line with the market" rating. Morgan Stanley mentioned that since the outbreak of the conflict in the Middle East, the spot market trend for small bulk carriers has gradually strengthened. The bank is optimistic about the risk-return profile of Pacific Basin Shipping in the short term, while expecting a more balanced outlook in the medium term.