Pareto Securities has initiated coverage of Odfjell with a buy rating suggesting the company's balance sheet worries are a thing of the past.
Analyst Eirik Haavaldsen placed a NOK 45 per share target price on the company in an introductory note that applauded progress by a cost cutting initiative that sliced out $100m in annual spending.
"After several years of losses the market does not at all seem to appreciate that the company is on the right track back to achieving solid returns," Haavaldsen said.
Noting
