Report
Nicolay Dyvik
EUR 870.24 For Business Accounts Only

BW LPG (Buy, TP: NOK45.00) - Buy ahead of the summer season

BW LPG is flexing strong financial muscle after refinancing its debt maturing in 2018, giving a runway to Q3 2019. Our positive market outlook is intact, with reasonable rates despite lower US exports YTD, as we enter the historically stronger summer months. Our belief in an improving VLGC market underpins our BUY recommendation and NOK45 (NOK44) target price.
Underlying
BW LPG Ltd.

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Nicolay Dyvik

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