• (PLX AI) – Norden shares rose 15% after the shipper posted its best earnings report in 11 years.
  • • Norden beat expectations on both profit and revenue, and forecast rising net income in 2022
  • • Also started a share buyback for $30 million
  • • 2022 outlook is for $210-280 million in net profit, which is markedly higher than Kepler Cheuvreux expectation of $113 million
  • • The Ukraine war will cause major fluctuations in the market in the future, both for dry cargo and product tankers, Kepler said
  • • There could be a negative effect in the short term from the loss of grain exports in the dry cargo space, while for product tankers demand will provide a boost to prices, Kepler said
  • • Kepler reiterated a buy rating with a target price of 210 DKK for Norden

Quelle: PLX AI