| Over a week ago | ||||
HSBC analyst Parash Jain… HSBC analyst Parash Jain downgraded Orient Overseas to Reduce from Hold with a price target of HK$90, down from HK$125. Container freight rates have eroded steadily since May, likely on still weak market demand and sluggish container trade volume, the analyst tells investors in a research note. The firm says the much anticipated peak season in Q3 is deterring liners from cutting capacity. | ||||
| Over a month ago | ||||
HSBC upgraded Orient… HSBC upgraded Orient Overseas to Hold from Reduce with a price target of HK$125, up from HK$115. The analyst expects freight rates to recover from the second half of 2023 on restocking-led demand and sees a balanced risk/reward at current share levels. | ||||
