Dorian LPG (Hold, TP: USD8.10) - Financing from a short menu
Dorian released its Q2 2018 accounts earlier in November. A degree of clarity was provided on the liquidity position, but a sale/leaseback transaction only provides some comfort. We reiterate our HOLD recommendation and have raised our target price to USD8.1 (USD7.9).
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.
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