Maxim Group Just Cut Its Target Price for This Tanking Company
So far in this series, we’ve discussed how crude tanker stocks fell last week (ended August 11, 2017). We also saw how average VLCC (very large crude carrier) rates are now seeing multiyear lows and how bunker fuel prices fared last week. In this part, we’ll see how analysts revised their target prices for the 32nd week of 2017 (ended August 11, 2017).
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Nordic American Tankers and Navios Maritime
On August 7, Maxim Group reduced its target price for Nordic American Tankers (NAT) stock to $4 from $5 and maintained “sell” rating.
In the 30th week, Credit Suisse cut its target price for NAT to $6 from $7, and Evercore downgraded NAT from “inline” to “underperform,” reducing its target price to $5 from $6.
None of the analysts are bullish on Nordic American Tankers (NAT). Five analysts recommended a “hold,” while two analysts recommended a “sell,” and two recommended a “strong sell.”
Notably, J.P. Morgan reduced its target price for Navios Maritime Midstream Partners (NAP) to $9.5 from $10.
Navios Maritime and Gener8 Maritime
Four analysts now cover Navios Maritime Midstream Partners (NAP), three of which have given a “hold” recommendation on the stock, while one recommends a “sell.”
Seven analysts gave recommendations for Gener8 Maritime Partners (GNRT) stock. Two analysts recommend a “strong buy,” and three recommended a “buy.” Two analysts recommend a “hold,” but none are bearish on the stock.
Teekay Tankers and Euronav
Ten analysts have given recommendations for Teekay Tankers (TNK). None has recommended a “strong buy,” but three have recommended a “buy.” Five analysts recommended a “hold,” while two recommended a “sell.”
Of the 12 analysts covering Euronav (EURN) stock, two recommend a “strong buy,” while six recommend a “buy,” and four recommend a “hold.”