On June 3, SITC International fell 3.3% in regular trading, trading at HK$34.56/share, with trading volume of HK$34.49 million.

The decline came amid broad weakness in the shipping sector and the stock trading above UBS's neutral target price. UBS recently raised its target price from HK$30 to HK$33.8 while reiterating a Neutral rating, with the current share price exceeding this level, signaling limited upside in the bank's view. The sector saw widespread selling, with COSCO Shipping Holdings down 3.17%, Orient Overseas International down 3.04%, and Pacific Basin Shipping down 2.75%.

Additionally, institutional forecasts project the company's net profit may decline next year, adding valuation pressure. While management remains confident in Q2 freight rate and volume recovery driven by Middle East geopolitical tensions and a container freight rebound since March, the convergence of the stock price with or above target prices from key brokerages appears to have triggered profit-taking among some investors.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)