Clarkson Share News (CKN)

(Sharecast News) - Peel Hunt initiated coverage of shipping services company Clarkson on Tuesday at 'buy' with a 4,000p price target.
The broker said demand for Clarkson's services is rising as global trade recovers from the pandemic and newbuild order books climb in response to higher charter rates, from the lowest level in decades.

"The shift to alternative technologies and mandatory emissions reporting should increase demand for the group's services further, and we believe there is potential to upgrade our forecasts if this recovery develops more robustly," it said.

"We believe digital platform Sea/ gives the group competitive advantages, reducing the risk of disintermediation, and we estimate a profit stream worth £200m."

At 0950 BST, the shares were up 4.2% at 3,261.46p.