MPC Container Ships (Hold, TP: NOK27.00) - HOLD your horses
The freight market cycle extension, which in our view previously relied on faith, is in fact materialising with congestion again taking a turn for the worse, likely elevating rates even further before the inevitable decline at some point in the future. As we are approaching meaningful potential for contract renewals, we find the risk/reward increasingly reasonable. We have upgraded our recommendation to HOLD (SELL) with a target price of NOK27 (23) as we now see increased visibility on near-term durations and timecharter rates.
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.