UPDATE: UBS Starts DHT Holdings (DHT) at Buy, Names 'Top Pick'

March 14, 2014 7:34 AM EDT Send to a Friend
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Price: $6.90 -1.99%

Rating Summary:
    9 Buy, 0 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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(Updated - March 14, 2014 1:30 PM EDT)

UBS initiated coverage on DHT Holdings (NYSE: DHT) with a Buy rating and a price target of $10 and names the stock a 'Top Pick."

Analyst Joshua Katzeff said, "DHT has transformed itself after two restructurings into a lower-leveraged, pure-play crude tanker owner. With ten tankers on the water and an orderbook of six VLCCs, DHT is benefitting from the current uptick in spot rates and should see upside from positive longer-term crude trends as its newbuildings deliver in 2016. DHT maintains a clean balance sheet and no related party issues. The company is one of our Top Picks and our favourite way to play the crude tanker sector. Although DHT pays a $0.08/share annual dividend (current yield of 1.0% as of March 12), we see little pay-out upside near-term as the company focusses on fleet growth."

For an analyst ratings summary and ratings history on DHT Holdings click here. For more ratings news on DHT Holdings click here.

Shares of DHT Holdings closed at $7.76 yesterday.

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