TORM PLC (TRMD)

[dealorfx]

STOCKS NEWS EUROPE-Shipper Torm falls on weak outlook
Thu Mar 11, 2010 8:49am GMT
Shares in Torm (TORM.CO) fall 2.6 percent to a three-week low of 56.0 Danish crowns, underperforming the broader market, after the shipping company in its 2009 results report gives a weak 2010 outlook.

"The forecast is somewhat on the weak side," Jyske Bank says, comparing Torm's guidance of a 2010 pretax loss in a 15 million to 60 million range with market consensus of an 11.5 million loss. Jyske rates Torm "reduce".

"Weak results; dire outlook," S&P Equity Research says in a note,

"We would expect downwards adjustments to consensus earnings," S&P says, reiterating its "sell" rating on the Torm stock. For more double click on [ID:nCSE3jXN]