Ardmore Shipping price target lowered to $19 from $21 at Evercore ISI

Evercore ISI lowered the firm’s price target on Ardmore Shipping (ASC) to $19 from $21 and keeps an Outperform rating on the shares. The Iran War and Strait of Hormuz closing are “unprecedented and there is no line of sight on a final outcome and timing,” the analyst tells investors in a research note. Evercore says this brings “more headline noise and volatility” for the tanker group.