Norwegian chemical tanker owner Odjfell is “attractively valued”, according to DNB Markets.
The Norwegian bank lifted the target price to NOK 179 from NOK 168 and kept its buy recommendation for the Oslo-listed company.
“The Red Sea disruptions, with chemical tanker transits down [about] 35% since mid-December, and with product tanker rates poised to react as additional rerouting has recently been announced, should provide further upside potential to current rate levels, in our view,” DNB equity research analyst Jorgen Lian said in a note.
