UPDATE: ABG Sundal Collier Upgrades DHT Holdings; Raises PT

According to a research report published this morning, ABG Sundal Collier has upgraded DHT Holdings

from Sell to Hold, and raised PT from $0.70 to $0.85. In the report, ABG Sundal Collier commented, "DHT reported Q1 EBITDA of USD 16m, 53% ahead of our forecast of USD 10m and 12% ahead of consensus at USD 14m. The deviation to our forecast was mainly explained by better than expected spot rates and lower than expected vessel expenses. With its newly issued equity, DHT now has the balance sheet to withstand a sustained market downturn, and the agility to undertake opportunistic and value-accretive acquisitions when the time is right." DHT Holdings closed yesterday at $0.76.