Maxim analyst Tate Sullivan raised the firm’s price target on Imperial Petroleum (IMPP) to $6 from $5.50 and keeps a Buy rating on the shares. The company’s Q2 results were much better than expected due to higher shipping rates for both existing tankers and seven acquired dry bulk ships, the analyst tells investors in a research note. Demand from China for dry bulk and energy imports also “remains resilient”, the firm added.
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