Wall Street Analysts Believe Ardmore Shipping (ASC) Could Rally 26.65%: Here's is How to Trade

Core Viewpoint - Ardmore Shipping (ASC) shares have shown a modest increase of 0.6% over the past four weeks, closing at $16.32, with analysts projecting a potential upside to a mean price target of $20.67, indicating a 26.7% increase from the current price [1] Price Targets and Analyst Consensus - The mean price target of $20.67 is derived from three short-term estimates, with a standard deviation of $1.15, suggesting a relatively high agreement among analysts [1] - The lowest estimate of $20 indicates a 22.6% increase, while the highest estimate suggests a 34.8% increase to $22 [1] - Analysts' ability to set price targets has been questioned, as they may set overly optimistic targets influenced by business relationships [3][4] Earnings Estimates and Potential Upside - There is a growing optimism among analysts regarding ASC's earnings prospects, supported by a positive trend in earnings estimate revisions [5] - The Zacks Consensus Estimate for the current year has risen by 2.5% over the past month, with one estimate increasing and no negative revisions [5] - ASC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [6]