HSBC Global Research has raised its target price for Pacific Basin Shipping on positive supply-demand projections.
It maintained its hold rating on the stock, which now has a target of HKD 1.80, from HKD 1.70 previously.
The shares were trading up 2% at HKD 1.92 on Tuesday.
HSBC believes the balance between vessel supply and charterer demand will remain favourable into 2019.
