- (PLX AI) - Torm shares fell nearly 6% as a significant earnings beat was overshadowed by special items, analysts said.
- • Torm's result includes an unrealized gain from freight derivatives of USD 8.2 million in the second quarter
- • This led to an EBITDA beat of 17%
- • Kepler Cheuvreux reiterated a buy rating on Torm, with price target DKK 92
- • Torm's freight rates for the third quarter are above market, Kepler said
- • The company reports difficult market conditions, with new shutdowns in Asia limiting demand, but demand seems to be on the way back in the US and Europe, Kepler said
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