BW LPG is set to make good money for its investors after the $1bn deal with Avance Gas.
On Friday, DNB reinstated a “buy” recommendation with a share target price of NOK 250 ($23.60) per share.
“We believe the re-leveraged BW LPG, following its acquisition of 12 VLGCs, is well-placed to harvest solid earnings in what looks set to be a healthy freight market supported by limited 3% annualised fleet growth over the next eight quarters,” analyst Jorgen Lian said in a note.
