BW LPG (Buy, TP: NOK85.00) - Continues to divest older tonnage
BW LPG is still affected by the volatile market, but we remain confident that the discount to steel values should be reduced. The company is delivering on shareholder returns, having declared a DPS of USD0.1 for Q2, and we view efforts to sell older, less-efficient tonnage as highly accretive. We reiterate our BUY and lift our target price to NOK85 (82).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.