TRMD - TORM stock gains after initiated with a Buy at Pareto

TORM (NASDAQ:TRMD) shares jump after Pareto initiates coverage on the stock. Eirik Haavaldsen, an analyst at Pareto has rated the stock with buy and says the company may pay out dividends equal to 40% of its market value over the next 3 years. PT set to DKK140, implying a 49% increase from last price. Tanker spot rates “are going ballistic” and Torm’s 2Q profitability could “dwarf the 2020 mayhem,” says analyst in a note. Shares have outperformed the broader market index over a period of one year:

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TORM stock gains after initiated with a Buy at Pareto