Pacific Basin Ship (PCFBY) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Pacific Basin Ship (NASDAQ:PCFBY) from a hold rating to a buy rating in a research note published on Wednesday, October 18th. They currently have $4.75 price objective 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. “

Pacific Basin Ship (NASDAQ PCFBY) traded down 1.44% on Wednesday, reaching $4.12. 3,900 shares of the company were exchanged. Pacific Basin Ship has a 12-month low of $2.22 and a 12-month high of $4.31. The firm’s market capitalization is $830.84 million. The firm has a 50-day moving average of $4.12 and a 200 day moving average of $3.92.

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