Clarksons Securities has downgraded its outlook for Golden Ocean Group shares as it expects the New York-listed owner to have lower earnings in the not-so-distant future.
The investment banking division of shipbroker Clarksons lowered its price target on Golden Ocean shares to NOK 120 ($11.34) from NOK 130, but it still holds optimism for the second half of 2023.
“Golden Ocean is optimistic about market conditions improving in the latter half of this year and into 2024 as demand continues to recover and fleet growth slows,” analyst Frode Morkedal said in a note.
