Thursday, 11 February 2010
Pareto Securities has adjusted the price targets and recommendations on a number of Oslo-listed shipping stocks in a recent note to customers. The broker cut its recommendation on tanker operator Frontline Ltd and on Jinhui Shipping and Transportation Ltd (OSL: JIN) to "hold" from "buy". The share price target on Frontline was reduced to NOK150 from NOK200, while the target on Jinhui Shipping was set at NOK28.
Dry-bulk carrier Golden Ocean Group Ltd (OSL: GOGL) and Eitzen Chemical ASA (OSL: ECHEM) got the "sell" rating confirmed.
The price target on Golden Ocean was raised to NOK7.00 from NOK6.50, while the target of NOK1.30 on Eitzen Chemical was maintained.
The stock in shipping company Wilson ASA (OSL: WILS) was downgraded to "sell" from "hold", at the same time as the price target was cut to NOK13 from NOK16.
The shares in Frontline closed at NOK153.40, down 1.67% on the day on Monday on the Oslo Stock Exchange.
The stock in Jinhui Shipping and Transportation was last traded at NOK23.90, down 4.40% and the share in Golden Ocean Group -- at NOK10.25, down 2.94%.
The shares in Eitzen Chemical lost 2.91% to NOK1.67.
The stock in Wilson was last traded at NOK17.50, no change in the quotation occurring on the day.
Source: Nordic Business Report
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