CMB.Tech and Golden Ocean downgraded as debt reduction leaves ‘little room’ for dividends

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CMB.Tech was cut to hold from ‘buy’ by Arctic Securities after last week’s announced merger with Golden Ocean.

Analyst Kristoffer Barth Skeie cut the target price of the Brussels and New York-listed owner to $9 from $13.70.

Barth Skeie said the company’s high leverage indicates that debt reduction will be “a priority in the short term”.