- I double upgraded Golden Ocean stock from sell to buy as I revised my calculation of the company’s fair value.
- I estimate full-year 2022 total operating revenues and net operating income of $1,089 million and $406 million, respectively, for Golden Ocean.
- The company expects freight rates to increase in the upcoming quarters as it expects dry bulk fleet demand to outpace dry bulk fleet supply.
- Comparing Golden Ocean’s leverage ratios with some peers indicates that the company has a healthy leverage condition.
- Based on GOGL’s forward EV/EBITDA and the company’s adjusted EBITDA, the stock is worth $15.6 per share.
For further details see:
Golden Ocean: I Double Upgraded The Stock To Buy