Evercore ISI lowered the firm’s price target on Torm plc (TRMD) to $35 from $36 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.
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