HSBC Global Research raised the target price for OOIL (00316) to HKD95 from HKD80 and maintained the "reduce" rating.
The research house said it lifts freight rate growth estimates in 2024 by 12.5ppts to reflect the fact that freight rate was gaining support from the Red Sea disruption, but lowers 2025 average freight rates assumption to reflect the prolonged overcapacity and the extended downcycle in the container shipping industry.
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