Gener8 Maritime (Hold, TP: USD4.85) - Cutting loose some older DWT
We have made only minor revisions to our estimates ahead of Gener8 Maritime’s Q3 results (expected before market open on 9 November). While we are 8% below consensus Q3 adj. EBITDA, we are 12% above on adj. EPS. The company has both improved liquidity and cut the average age of its fleet by disposing of a number of vessels since its Q2 results, and we expect more flavour on this in the Q3 release. We reiterate our HOLD recommendation, but have cut our target price to USD4.85 (USD5.00) due to lower asset values.
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.