I had  a good meeting with the management of Atlantic Navigation yesterday.   After the release of its FY2013 results, I had raised my price target significantly from S$0.57.....(see My Stock Picks section) on strong earnings growth forecasts for 2014 and 2015 from both organic growth, ie higher charter rates and the contribution of new vessel purchases due in May 2014 and 2015.   From the Q1-2014 announcement there is an additional vessel purchase which could raise my already aggressive 2014 forecasts by a further 10-20%.   This would invariably raise my price target by a similar percentage.

I still like the stock but will keep my current price target intact with a view of increasing ...