Arctic Securities has taken up coverage of Ardmore Shipping with a buy rating amid the suggestion is it set for further growth.
Analyst Andreas Wikborg placed an $11.0 per share target price on the New York-listed owner suggesting it is a “quality product on the discount shelf”.
“We believe Ardmore has an excellent platform to continue building a leading product tanker company, either through listed company M&As or through secondhand acquisitions,” the analyst said in a report today.
