Dorian shares dip

A leading equity analyst is urging clients to accumulate shares of Dorian LPG (Dorian) on the heels of a drop that followed the release its second-quarter earnings report.

Related Maps

View the full map

Meet the team

According to regulatory filings he and John Lycouris, the CEO of affiliate Dorian LPG (USA), have been involved in the management of shipping companies for more than three decades.

READ MORE

In a briefing published right before the close Eirik Haavaldsen of Pareto Securities encouraged investors to exploit the slide in the New York-quoted operator’s stock price, which fell 3.93% before bottoming out at $20.07 Thursday afternoon.

“While we believe Dorian’s first ever quarterly report was a relatively positive one, the share price is down approximately 6% [since the release of the earnings report] as LPG and LNG stocks struggle,” the forecaster explained, adding:

“In our view a clear buying opportunity, as Dorian both announced the formation of what will be a significant VLGC pool with partner Mitsui OSK Lines (Phoenix Tankers) and elaborated on the interesting collaboration with HNA Logistics of China.”

Haavaldsen, who has followed Dorian ever since its first trip to the capital markets, reiterated his “buy” rating and $25.00 price target after praising the Stamford, Connecticut-based operator's  performance in the second-quarter.

You can see what other forecasters had to say about the latest developments at Dorian by clicking HERE. Coverage of its most recent naming ceremony can be found in the latest edition of our weekly paper, which can be accessed HERE.

TRENDING TODAY

  1. DryShips lenders declare debt in default

    UPDATE: Auditors express concerns about ability to continue amid covenant breaches and unpaid loans.

  2. DryShips pays nearly $67m to related parties

    More than $8m in S&P commissions among charges paid to CEO George Economou, but total declines from last year.

  3. Loan impairments double to $144m at DNB Bank

    Norwegian lender says first quarter saw deterioration of shipping and offshore portfolio, with more losses to come.