DNB Carnegie downgraded BW LPG (BWLP) to Sell from Hold with a price target of NOK 135, down from NOK 172. The firm says shipping is “no longer in short supply” while the risk of a prolonged conflict in the Middle East is increasing. Given DNB’s “meager” outlook on U.S. export growth, risks appear tilted to the downside for BW shares, the analyst tells investors in a research note.
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