UBS Maintains a 'Neutral' on DHT Holdings (DHT); Lowers Estimates as Perfect Storm Getting Worse

UBS maintains a 'Neutral' on DHT Holdings (NYSE: DHT), price target lowered from $4.30 to $2.75.

UBS analyst says, "Due to persistent softness in the oil tanker shipping market we are making further cuts to our DHT estimates. 2011E EPS falls from $0.37 to $0.26, and our 2012 estimate declines from $.0.45 to $0.33. Our quarterly dividend estimate remains $0.10."

"Our view on the stock: sit tight and clip the dividend - With a long road to recovery and heightened volatility and uncertainly, we do not recommend an
investment in DHT. For those that already own it our advice is to sit tight, be patient, and clip the dividend."

For more ratings news on DHT Holdings click here and for the rating history of DHT Holdings click here.

Shares of DHT Holdings closed at $2.81 yesterday.

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