Avance Gas was downgraded by DNB Markets on Monday.
Analyst Jorgen Lian cut his recommendation for the John Fredriksen-backed VLGC owner to “hold” from “buy”.
The target price was raised to NOK 172 ($15.8) from NOK 168.
“However, given the recent share price rise, we find the stock fully valued at a P/NAV of 1.05x,”
