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Week 44: Crude Tanker Industry Update

PART:
1 2 3 4
Part 4
Week 44: Crude Tanker Industry Update PART 4 OF 4

Wells Fargo Revised the Target Prices for NAT, EURN, and FRO

Revisions

In week 44 (week ending November 3), Wells Fargo reduced the target price for Nordic American Tankers (NAT) to $3.5 from $4. It also reduced the target price for Euronav (EURN) and Frontline (FRO). Euronav’s target price was reduced to $9 from $9.25, while Frontline’s target price was reduced to $6 from $6.5.

Wells Fargo Revised the Target Prices for NAT, EURN, and FRO

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In week 43, Evercore reduced the target price for Tsakos Energy Navigation (TNP) to $6.5 from $7. Nordic American Tankers’ target price was cut to $4.5 from $5. Evercore reduced the target price for Gener8 Maritime Partners (GNRT) to $6 from $6.5. Evercore raised Frontline’s target price to $5.5 from $4. Evercore also raised Euronav’s target price to $10 from $9. In week 42, Citigroup raised the target price for Navios Maritime Midstream Partners (NAP) to $8 from $7.

Consensus ratings

  • Of the nine analysts covering Nordic American Tankers, none of the analysts are bullish on the stock. About 55.0% of the analysts are neutral, while 45.0% are bearish. The consensus target price is $4.35, which implies a potential upside of 2.8% from the market price of $4.23 on November 7, 2017.
  • Five analysts gave recommendations for Frontline—20.0% of the analysts are bullish, 60.0% are neutral, and 20.0% are bearish on the stock. The consensus 12-month target price is $6.2, which implies a potential upside of 0.2% from the market price of $6.19 on November 7, 2017.
  • Seven analysts gave recommendations for Gener8 Maritime Partners—72.0% are bullish and 28.0% are bearish on the stock. The consensus 12-month target price is $6.57, which implies a potential upside of 40.7% from the market price of $4.67 on November 7, 2017.
  • Ten analysts gave recommendations on Teekay Tankers (TNK)—30.0% are bullish, 50.0% are neutral, and 20.0% are bearish on the stock. The 12-month consensus target price is $2.17, which implies a potential upside of 51.7% from the market price of $1.43 on November 7, 2017.
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