Pacific Shipping (02343) shares fell 5limitpoker.14%, currently quoted at HK$2.77, with a turnover of HK$84.5318 million.
HSBC Global Research pointed out that it downgraded its investment rating on Pacific Shipping to "underweight" and lowered its target price to HK$2.55, driven by Capesize shipping fees.limitpokerThe rise in BDI of the stock will slow down, which is different from the stock's share price in 2021 due to the increase in freight rates for portable extreme and portable vessels. The bank believes that limited upside for ship fares, downside risks to demand and increased ship supply will lay the foundation for lower earnings expectations for the first half of the year and downside risks to performance forecasts.
