DHT Holdings (Buy, TP: USD14.50) - Potential supporting momentum
VLCC index rates have been hovering steadily around USD40k/day since October, while the market eagerly anticipates the spark that could ignite a prolonged upcycle based on absent fleet-growth prospects for the next two-three years. We believe DHT still represents favourable exposure to a boom with potential dayrates of cUSD100k pegging valuation at 3x P/E. We reiterate our BUY, and have raised our target price to USD14.5 (12.7).
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.