But analyst Michael Webber also decreased his predictions for BW LPG’s earnings next year as a result of adjustments in the newbuilding delivery schedule and a “slightly more conservative 2016 rate deck”.
The moves by the bank’s New York-based analyst, who kept an “outperform” rating on the company’s shares, come after Singapore-headquartered BW LPG reported better-than-expected first-quarter earnings. The company also issued a surprisingly large dividend increase.
Webber
