Evercore ISI has revised its outlook for DHT Holdings (DHT, Financial), reducing the price target from $14 to $13, while maintaining an Outperform rating on the stock. Despite the firm seeing tanker stocks trading at historically low valuation discounts, intensified by fears surrounding global economic conditions, the company observes that sector balance sheets are robust.
The analyst highlights that mounting worries over a possible global recession, compounded by challenging trade policies, are reshaping expectations for oil demand. Historically, such recessionary climates have put pressure on tanker rates and related equities.
