Fearnley Fonds Stock Recommendations and Price Targets

This is a list of recent ratings by Fearnley Fonds.

Date	Company Name	Action	Current Price	Price Target	Rating
12/2/2025	HAFN Hafnia	Upgrade	$6.00		Hold ➝ Strong-Buy
11/13/2025	TRMD Torm	Upgrade	$21.00		Hold ➝ Strong-Buy
11/3/2025	KNOP KNOT Offshore Partners	Downgrade	$10.00		Strong-Buy ➝ Hold
9/16/2025	TDW Tidewater	Upgrade	$60.00		Hold
9/3/2025	HAFN Hafnia	Downgrade	$6.00		Strong-Buy ➝ Hold
9/3/2025	TRMD Torm	Downgrade	$21.00		Strong-Buy ➝ Hold
8/18/2025	VWDRY Vestas Wind Systems AS	Downgrade	$8.00		Strong-Buy ➝ Hold
7/30/2025	BORR Borr Drilling	Downgrade	$4.00		Strong-Buy ➝ Hold
7/30/2025	SDRL Seadrill	Downgrade	$33.00		Strong-Buy ➝ Hold
7/30/2025	VAL Valaris	Downgrade	$60.00		Strong-Buy ➝ Hold
6/27/2025	ARQ ARQ	Upgrade	$4.00		Strong-Buy
5/20/2025	ERII Energy Recovery	Upgrade	$15.00		Hold ➝ Strong-Buy
5/6/2025	HAFN Hafnia	Upgrade	$6.00		Strong-Buy
5/6/2025	ASC Ardmore Shipping	Upgrade	$12.00		Hold ➝ Strong-Buy
5/6/2025	TRMD Torm	Upgrade	$21.00		Hold ➝ Strong-Buy
5/6/2025	STNG Scorpio Tankers	Upgrade	$56.00		Hold ➝ Strong-Buy
4/22/2025	AMKBY A.P. Moller-Maersk	Downgrade	$10.00		Strong-Buy ➝ Strong Sell
4/1/2025	KNOP KNOT Offshore Partners	Upgrade	$10.00		Strong-Buy
3/21/2025	FLOC Flowco	Upgrade	$19.00		Strong-Buy
3/19/2025	GLNG Golar LNG	Upgrade	$39.00		Hold ➝ Strong-Buy
2/17/2025	CLCO Cool	Downgrade	$10.00		Strong-Buy ➝ Hold
2/17/2025	CCEC Capital Clean Energy Carriers	Downgrade	$21.00		Strong-Buy ➝ Hold
2/17/2025	FLNG Flex LNG	Upgrade	$26.00		Hold
11/21/2024	SFL SFL	Upgrade	$8.00		Hold ➝ Strong-Buy
11/21/2024	ZIM ZIM Integrated Shipping Services	Downgrade	$21.00		Hold ➝ Strong Sell
11/13/2024	GLNG Golar LNG	Downgrade	$39.00		Strong-Buy ➝ Hold
11/7/2024	VWDRY Vestas Wind Systems AS	Upgrade	$8.00		Hold ➝ Strong-Buy
11/6/2024	ERII Energy Recovery	Downgrade	$15.00		Strong-Buy ➝ Hold
10/10/2024	CCEC Capital Clean Energy Carriers	Upgrade	$21.00		Strong-Buy
9/27/2024	DHT DHT	Upgrade	$13.00		Strong-Buy
9/27/2024	ASC Ardmore Shipping	Upgrade	$12.00		Hold
9/27/2024	TRMD Torm	Upgrade	$21.00		Hold
9/27/2024	TEN Tsakos Energy Navigation	Upgrade	$24.00		Strong-Buy
9/27/2024	FRO Frontline	Upgrade	$23.00		Strong-Buy
9/27/2024	INSW International Seaways	Upgrade	$51.00		Strong-Buy
9/27/2024	TNK Teekay Tankers	Upgrade	$55.00		Strong-Buy
9/27/2024	STNG Scorpio Tankers	Upgrade	$56.00		Hold
12/8/2022	GRGSF Grieg Seafood ASA	Upgrade	6.00	81.00	Hold ➝ Buy
12/8/2022	SALRF SalMar ASA	Upgrade	$54.00		Hold ➝ Buy