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Fly News Breaks for June 9, 2016
ASC
Jun 9, 2016 | 11:09 EDT
Stifel analyst Benjamin Nolan said the acquisition of 6 MR product tankers increases the company's scale and reduces its total average fleet age to about 3.9 years. With the deal completion, Nolan believes Ardmore will be a much better product tanker pure-play alternative to other peers in the market and as product tanker fundamentals strengthen, shares should trade at more rational levels. The analyst rates Ardmore a Buy with a $16 price target on shares.
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