TORM plc rated strong buy with high dividend yield and merger potential with Hafnia.

TORM plc (TRMD) is rated a strong buy due to its robust income potential, undervaluation, and possible merger with Hafnia (HAFN). The company has secured significant revenue visibility, with 42% of its 2026 earning days fixed at $50,044/day and EBITDA guidance up to $1.1 billion. Its dividend yield is near 9%, potentially reaching 12.7% if high-end guidance and distribution rates are met. A merger with Hafnia could unlock additional value, with net asset value-based scenarios suggesting a share price upside to $34–$35.