Genco Shipping & Trading (Buy, TP: USD16.80) - Discount has widened again
Q4 is shaping up to be better than we had forecast and we have raised our estimates for Genco accordingly. Work on the balance sheet and optimising commercial operations is in the rear view mirror – the next phase is to grow the fleet. However, we believe the P/NAV needs to improve first. We reiterate our BUY recommendation and have raised our target price to USD16.8 (16.7).
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.