HSBC Global Research has raised the target price of Chinese containership owner SITC International on the back of higher expected earnings.
It forecasts the stock will reach HKD 5.20 ($0.67), up from its previous target of HKD 3. It was trading at HDK 4.30 on Tuesday.
The company has been upgraded to ‘buy’ from ‘reduce.’
A meeting with management helped analysts better appreciate its “competitive positioning,” HSBC said.
It
