Zacks Investment Research upgraded shares of PAC BASIN SHIPP/ADR (OTCMKTS:PCFBY) from a hold rating to a buy rating in a research report report published on Friday, Zacks.com reports. They currently have $4.75 price target on the stock.
According to Zacks, “Pacific Basin Shipping Limited is a provider of diversified shipping services primarily engaged in owning and operating dry bulk vessels. The Company operates in three main maritime segments under the banners of Pacific Basin Dry Bulk, PB Energy & Infrastructure Services, and PB RoRo. The dry bulk segment owns and operates handysize and handymax dry bulk vessels providing cargo solutions and a range of freight services. The Company’s PB Towage segment offers services and barge fleet including Harbour Towage, Terminal Support, Project/Module Transportation and Logistics, Bulk Transportation, Offshore Support, Ocean Towing and Salvage Support. RoRo fleet is serves the major RoRo trades in Northern Europe, the Mediterranean and elsewhere. Pacific Basin Shipping Limited is headquartered in Central, Hong Kong. “
Separately, ValuEngine downgraded shares of PAC BASIN SHIPP/ADR from a hold rating to a sell rating in a research report on Tuesday, September 10th.
About PAC BASIN SHIPP/ADR
Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. As of February 28, 2019, the company had a fleet of 217 ships, including 132 Handysize vessels, 83 Supramax vessels, and 2 Post Panamax vessels. It also offers ocean shipping services, shipping consulting and ship agency, crewing, secretarial, and agency and ship management services, as well as issues convertible bonds.
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