Promise of continued growth and a projected jump in profitability have led Evercore ISI to take up coverage of Torm with an outperform rating.
Analyst Jon Chappell has placed a $13.00 per share target price on the company, which added a US listing in December to its long established position on the Nasdaq Copenhagen.
As TradeWidns reported yesterday, Torm’s initial low liquidity in the US is not seen as a concern given its Times Square ticker offers a platform for both raising funds and consolidating the market.
