Evercore ISI Group Maintains Outperform Rating for TORM: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Evercore ISI Group has reaffirmed its Outperform rating on TORM (NASDAQ:TRMD) and increased its price target from $42.00 to $44.00. Despite a 0.9% decline in TORM's share price over the last 24 hours to $32.90, the new price target suggests a potential upside of 33.74%. TORM PLC is a shipping company specializing in the transportation of refined oil products.
March 08, 2024 | 5:00 pm
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Evercore ISI Group maintains Outperform rating on TORM, raising price target from $42.00 to $44.00, indicating a potential 33.74% upside from the current price.
The reaffirmation of the Outperform rating and the increase in price target by a reputable analyst group like Evercore ISI can be seen as a strong positive signal for TORM. This suggests confidence in the company's fundamentals and future performance. The potential 33.74% upside indicates significant growth expectations, which could attract investor interest and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100