Investment bank Jefferies is raising its VLGC rates forecasts as it slapped a “buy” rating on US owner Dorian LPG.
Calling the New York-listed company “the gift that keeps on giving”, analysts Omar Nokta and Jaeyoung McGarry believe more transit restrictions at the Panama Canal are a “game changer” for the sector and its earnings.
Jefferies had downgraded the owner in August due to the chance to lock in gains after the stock reached all-time highs, ahead of the typically weak winter period.
