Jefferies downgrades Dorian as shares transcend net asset value

Jefferies has downgraded Dorian LPG from buy to hold as the gas carrier’s shares trade at a premium to net asset value (NAV), which is considered a company’s true value on a per-share basis.

Dorian’s stock has edged up 0.46% to $28.35 by Thursday’s early-afternoon trading on Wall Street, beating the New York-listed owner’s NAV of $24.32 by more than $4 per share.