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Cantor initiates with a buy on Braemar

07 June 2016 13:51

Cantor Fitzgerald has initiated coverage of Braemar Shipping Services (LON:BMS) with a buy recommendation saying the company is performing well in a challenging global shipping and energy trading environment.

The broker has set a target price of 520 pence a share.

It added: "Right now, we assume limited organic growth but upside should come as market conditions improve and with further efficiencies and acquisitions. Meanwhile, free cash generation is strong and Braemar's valuation is attractive."

At 1:51pm: (LON:BMS) Braemar Shipping Services PLC share price was -7.5p at 442.5p

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