Guoyuan Hong Kong said in a report that the target price of Pearl River Shipping (00560-HK) remained unchanged at HK $2.43, equivalent to 16.5 times and 15 times 2010 and 2010 earnings per share, with 19.7 per cent room for increase from the current price, reiterating buying.

The report points out that the company will continue to acquire the assets of the parent company in the future, and after the cooperation with China Merchants International in the terminal freight business, the two sides will further carry out deeper cooperation. The cooperation alliance between the two sides has a strong brand and resource synergy effect, which is conducive to the continuous expansion of the company's new business, which in turn leads to the continuous growth of the company's performance.

Pearl River Shipping fell 0.44 per cent to HK $2.02 on Friday.