Pareto Securities has downgraded Dorian LPG given its strong share price performance and anticipated short-term weakness in the market.
Analysts Eirik Haavaldsen and Oystein Dalby switched Dorian from hold to sell at a time when the owner’s stock is trading well ahead of Pareto’s $9.50 per share target price.
While Haavaldsen and Dalby note the euphoria experienced around the stocks of peers BW and Avance Gas a month ago has faded, they believe Dorian is priced near parity which they deem unsustainable at this point in the cycle.
“The
