Market Overview

UPDATE: Morgan Stanley Initiates Coverage on Ardmore Shipping on Positive Outlook

Share:

In a report published Monday, Morgan Stanley analyst Fotis Giannakoulis initiated coverage on Ardmore Shipping Corporation (NYSE: ASC) with an Overweight rating and $16.00 price target.

In the report, Morgan Stanley noted, “ASC has a growing high-spec fuel efficient product/chemical tanker fleet with 8 existing vessels and 12 more eco ships to be delivered in 2014-15. Growing US Gulf exports, export refinery capacity in India and Middle East, and LatAm and WAf demand are all set to increase product trade. Management with strong record of accomplishment in shipping and operating in capital markets. Integrated ship management suggests full alignment of interest and low cost structure.”

Ardmore Shipping Corporation closed on Friday at $13.71.

Latest Ratings for ASC

DateFirmActionFromTo
Oct 2019DowngradesBuyHold
Aug 2018MaintainsEqual-WeightEqual-Weight
Mar 2018MaintainsOverweightOverweight

View More Analyst Ratings for ASC
View the Latest Analyst Ratings

Posted-In: Fotis Giannakoulis Morgan StanleyAnalyst Color Initiation Analyst Ratings

 

Related Articles (ASC)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
KHCUBSMaintains31.0
RPAYCantor FitzgeraldMaintains18.0
CMSCredit SuisseDowngrades
PBCTStephens & Co.Maintains15.5
TTECCowen & Co.Initiates Coverage On50.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com