Morgan Stanley released a research report stating that the target price of Pacific Basin (02343) for the years 2024 to 2026 is reduced by 9%, 12%, and 10% respectively to reflect weak market demand, as well as the expected decrease in equivalent benchmark revenues from on-time charter contracts for Pacific Basin's ultramax bulk carriers. Morgan Stanley mentioned that Pacific Basin is offsetting some of the negative impact by reducing the number of shares through repurchases and cancellations, and is currently lowering the target price from HK$2.76 to HK$2.74, maintaining a "shareholding" rating.
大摩：维持太平洋航运“增持”评级 目标价下调至2.74港元
Daiwa: Maintains pacific basin shareholding rating, with target price adjusted down to HK$2.74.
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