Pareto upgraded Dorian LPG to Buy from Hold with a price target of $35, up from $27. The analyst expects calendar Q3 to mark another record for Dorian LPG, with earnings per share well above $2 at current rates. Now booking backlog into 2024, the firm expects the company’s fiscal 2024 to see $8 of earnings per shared, implying sub-4 price-to-earnings ratio, the analyst tells investors in a research note. With its deviating fiscal year and limited analyst coverage, Dorian estimates appear modest, and which drive “significant beats,” says Pareto.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LPG: