Maxim Group Cut Tsakos Energy Navigation’s Target Price
The crude tanker index, as well as crude (DBO) tanker stocks, rose in week 37. VLCC (very large crude carrier) and Suezmax rates fell due to softer demand. Aframax rates also fell. In this part, we’ll look at analysts’ recommendations for crude tankers and analysts’ recent revisions.
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In week 37, Tsakos Energy Navigation (TNP) released its second-quarter earnings. Maxim Group reduced the target price for Tsakos Energy Navigation to $6 from $7 and maintained a “buy” rating. In the past four weeks, none of the analysts revised their target prices or recommendations for crude tanker stocks.
- Out of nine analysts, none of the analysts gave a “strong buy” or “buy” for Nordic American Tankers (NAT). Five analysts recommended a “hold,” two analysts recommended a “sell,” and two analysts recommended a “strong sell” for the stock.
- Seven analysts gave recommendations on Gener8 Maritime Partners (GNRT). Two analysts recommended a “strong buy,” three recommended a “buy,” and two recommended a “hold” for the stock.
- Four analysts gave recommendations on Frontline (FRO). One analyst recommended a “buy,” three analysts recommended a “hold,” and one analyst recommended a “sell” for the stock.
- Ten analysts gave recommendations on Tsakos Energy Navigation (TNP). Two analysts recommended a “strong buy,” six recommended a “buy,” and two recommended a “hold” for the stock.
- Four analysts gave recommendations on Navios Maritime Midstream Partners (NAP). Three analysts gave a “hold” recommendation, and one analyst gave a “sell” recommendation for the stock.