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Investing.com - Deutsche Bank has raised its price target on Clarkson Plc. (LON:CKN) (OTC:CKNHF) to GBP43.50 from GBP41.50 while maintaining a Buy rating on the shipping services provider.
The bank cited several factors supporting its bullish outlook on both the shipping industry and Clarkson’s market position over the long term.
Deutsche Bank highlighted a supportive supply-side backdrop that should help maintain charter rates at least through the current decade, along with potential for ongoing market share gains through what it described as a "flight to quality."
The bank also noted Clarkson’s nascent potential in commodities broking and greater opportunities to monetize the group’s data and technology advantages.
Deutsche Bank further identified the green fleet transition as a long-term tailwind for Clarkson’s business prospects.
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