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Week 6: Crude Tanker Industry Update

PART:
1 2 3 4
Part 4
Week 6: Crude Tanker Industry Update PART 4 OF 4

Week 6: Analysts’ Recommendations for Crude Tanker Companies

Revisions

In week 6 (week ending February 9, 2018) and the previous week, none of the analysts revised their recommendations or target prices for crude tanker companies.

Week 6: Analysts&#8217; Recommendations for Crude Tanker Companies

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Week 4

In the previous week, Evercore downgraded Gener8 Maritime Partners (GNRT) to “in line” from “outperform.” Evercore reduced Frontline’s (FRO) target price to $4 from $4.5. Evercore raised Teekay Tankers’ (TNK) target price to $2.5 from $2. Jefferies reduced its target price for Gener8 Maritime Partners to $8.

Week 3

In week 3 of 2018, J.P. Morgan reduced its target price for Euronav (EURN) to $8 from $9. Degroof Petercam raised Euronav’s target price. J.P. Morgan also revised its target price for Tsakos Energy Navigation (TNP) to $5.5 from $6.

Consensus ratings

  • Of the nine analysts covering Nordic American Tankers (NAT), only one analyst gave a “buy” recommendation. About 55% of the analysts are neutral, while 33% are bearish. The consensus target price is $3.o4, which implies a potential upside of 43.4% from the market price of $2.12 on February 9.
  • Seven analysts gave recommendations for Frontline (FRO). Of the analysts, 14% are bullish on the stock, ~57% are neutral, and 29% are bearish. The consensus 12-month target price is $5.1, which implies a potential upside of 25.4% from the market price of $4.06 on February 9.
  • Seven analysts gave recommendations for Gener8 Maritime Partners. Of the analysts, 28% are bullish and 72% are neutral on the stock. The consensus 12-month target price is $6.48, which implies a potential upside of 15.1% from the market price of $5.63 on February 9.
  • For Teekay Tankers, 12 analysts gave recommendations. Of the analysts, 33% are bullish, 50% are neutral, and 17% are bearish on the stock. The 12-month consensus target price is $1.96, which implies a potential upside of 67.5% from the market price of $1.17 on February 9.
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