Analyst Frode Morkedal has cut the Oslo-listed owner from buy to neutral ahead of its first quarter report.
Shares in BW LPG are up by more than a quarter in the year to date in what has been a strong period for the VLGC market.
However, with the stock within 15% of the analyst’s $9 target price and first quarter expectations likely to come down, Morkedal opted for a downgrade.
