Analysts at Morgan Stanley have revised their earnings per share forecasts for PACIFIC BASIN (02343) upward for the years 2026 through 2028. The increases are 14.3%, 13.1%, and 12.2% respectively, reflecting stronger-than-anticipated performance in the spot market.

The firm has consequently raised its target price for the company from HK$3.07 to HK$3.25, while maintaining its "in-line with the market" rating.

Morgan Stanley noted that the spot market for small bulk carriers has shown a gradual strengthening trend since the onset of conflict in the Middle East.

The bank views PACIFIC BASIN's risk-reward profile favorably in the near term, while expecting it to be more balanced over the medium term.