CICC released a research report saying that it maintained the Pacific Shipping (02343.HK) "outperforms the industry" rating, and considering the downward freight rates in the dry bulk market, it lowered its net profit from 15.6%/25.7% to US$810 million/US$770 million in 2022-23. Due to the downward trend in the industry freight rates and valuation centers, and the company's total dividend of HK$0.52 per share in the interim, the target price was reduced by 57.5% to HK$3.41, which has 32% upside than the current share price.
As of the close of October 13, 2022, Pacific Shipping (02343.HK) closed at 2.58 yuan, down 4.44%, a turnover rate of 0.32%, a trading volume of 16.8798 million shares, and a trading volume of was 244.0601 million yuan. Investment banks' ratings on this stock are mainly buy-in. In the past 90 days, three investment banks have given buy-in ratings , and the target average price in the past 90 days is 5.61. CICC's latest research report gave Pacific Shipping a buy rating with a target price of 5.37.
Institutional rating details are shown in the table below:
Pacific Shipping Hong Kong stock market value is HK$13.574 billion, ranking 4th in the shipping II industry. The main indicators are shown in the table below:
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