BWLPG- NO-Downgrading to HOLD- A recent surge in VLGC spot rates has kicked BW LPG’s share price into life, surging 33% since the 25 June trough to reach NOK 36 target price;the company could be trading in a range of NOK 28-40 until 2Q21E, before potentially surging to NOK 84 by 2023 amidst improving market fundamentals- Cleaves Securities, July 24, 2020