DHT Holdings initiated with a Buy at BTIG

BTIG initiated coverage of DHT Holdings with a Buy rating and $16 price target The company is positioned to take advantage of what BTIG expects will be a multi-year tanker upcycle and allows investors to participate in the upcycle through an “attractive dividend,” the analyst tells investors in a research note. The firm says after a mid-cycle pause in the crude tanker market, it expects the return of OPEC crude exports from the Middle East combined with increasing Atlantic crude oil flows to spur very large crude carrier activity. DHT is positioned to payout higher dividends as VLCC rates move higher, contends BTIG.