Analyst Magnus Fyhr has placed a buy rating on the tanker owner and boosted his target price from $7.00 to $10.00 per share.
It came as the analyst upgraded his tanker rate forecasts and suggested it was time to buy up tanker stocks ahead of a winter rally.
With the crude market running at its best level since 2008, Fyhr has boosted his VLCC rate forecast for 2015 from $45,000 per day to $52,000 per day.
