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Week 35: Crude Tanker Industry Had a Mixed Performance

PART:
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Part 4
Week 35: Crude Tanker Industry Had a Mixed Performance PART 4 OF 4

Analysts’ Recommendations for Crude Tankers in Week 35

Week 35

Previously in this series, we saw that the crude tanker index rose in week 35. However, crude tanker stocks had a mixed performance. Average VLCC (very large crude carrier) rates fell to multiyear lows. On the other hand, Suezmax and Aframax rates rose. In this part, we’ll look at analysts’ recommendations for crude tankers.

Analysts&#8217; Recommendations for Crude Tankers in Week 35

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Revisions

In the past three weeks, none of the analysts revised their target prices or recommendations for crude tanker stocks. In week 32, Maxim Group reduced its target price for Nordic American Tankers (NAT) from $5 to $4 and maintained a “sell” rating. In week 30, Credit Suisse reduced its target price for Nordic American Tankers from $7 to $6. Evercore downgraded Nordic American Tankers from “inline” to “underperform” and reduced its target price to $5 from $6. JPMorgan Chase reduced its target price for Navios Maritime Midstream Partners (NAP) from $10 to $9.50.

Consensus recommendations

  • Out of seven analysts, two analysts recommended a “strong buy,” three recommended a “buy,” and two recommended a “hold” for Gener8 Maritime Partners (GNRT).
  • Out of nine analysts, five analysts recommended a “hold,” two recommended a “sell,” and two recommended a “strong sell” for Nordic American Tankers (NAT).
  • Out of four analysts, one analyst recommended a “buy,” three recommended a “hold,” and one recommended a “sell” for Frontline (FRO).
  • Out of ten analysts, two analysts recommended a “strong buy,” six recommended a “buy,” and two recommended a “hold” for Tsakos Energy Navigation (TNP).
  • Out of 12 analysts, two analysts recommend a “strong buy,” six analysts recommend a “buy,” and four analysts recommended a “hold” for Euronav (EURN).
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