JP Morgan Initiates Ardmore Shipping With Overweight

JP Morgan initiated coverage on

with a Overweight rating. The target price for Ardmore Shipping is set to $16. Ardmore Shipping shares have dropped 3.91 percent over the past 52 weeks, while the S&P 500 index has surged 12.61 percent in the same period. Ardmore Shipping shares climbed 2.04 percent to close at $12.53 on Friday.