Glonghui, April 22 | Bank of America Securities published a research report saying that Pacific Shipping recently released operating data for the first quarter, and management indicated that it remains optimistic about fundamentals during investor exchange activities. Bank of America maintains a “buy” rating for the company and predicts that this year and next two years will enter a period of profit recovery. It expects the company to have a strong ability to generate cash flow, so it still believes that the dividend ratio can reach 70% this year. However, based on the first-quarter performance being slightly lower than the bank's forecast, Bank of America lowered its 2024-2026 profit forecast by 6% to reflect the decline in average rental income expectations. The target price dropped slightly from HK$3.1 to HK$3. Although the company announced a $40 million share repurchase plan, the bank still believes there is room for Pacific Shipping to pay a special dividend this year.