B. Riley raised the firm's price target on Pangaea Logistics to $11.50 from $9 and keeps a Buy rating on the shares. Dry bulk shipping rates softened into year-end, as weaker non-Capesize rates offset strong Capesize performance, the analyst tells investors in a research note. Demand is expected to remain stable in 2026 amid anticipated global GDP growth, healthy Chinese consumption, and limited vessel recycling, while operators maintain strong liquidity to navigate potential downturns and capitalize on high asset prices, B. Riley adds.
