Ge Long Hui·2025-10-20 05:29Core Viewpoint - Bank of America Securities reports that Pacific Shipping's third-quarter performance was generally in line with expectations, with slightly weak freight rates, but an improvement in locked-in freight rates for the fourth quarter [1] Group 1: Financial Performance - The company is expected to be exempt from paying port fees in the US and China, but regulatory uncertainty remains until further discussions with regulatory bodies occur [1] - The average earnings per share forecast for Pacific Shipping from 2025 to 2027 has been raised by 7% to reflect strong performance in the spot market for the fourth quarter of this year [1] Group 2: Ratings and Valuation - The rating remains "Neutral" due to reasonable current valuation levels, despite the target price being raised from HKD 2.4 to HKD 2.75 [1] - The outlook for the dry bulk market in 2026 remains unclear, contributing to the cautious stance on the company's rating [1]