Danske Bank Markets downgrades its expectations to the dry bulk carrier Golden Ocean which is controlled by the Norwegian shipping tycoon John Fredriksen.
“We expect that 2013 will be challenging and that 2014 will only show a weak improvement. That is why we predict a negative risk rather than an improvement opportunity concerning the value of the assets within dry bulk. Therefore, the carrier is much overrated compared to the present levels as we see it,” Danske Bank Markets states on Thursday. The analyst company changes its recommendation from hold to sell. At the moment, the share is traded at a premium which is 25 percent higher than its real value, the analyst company thinks.
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