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Analyst Recommendations for Crude Tanker Companies in Week 33

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Previously in this series, we saw that crude tanker stocks fell again in Week 33 (ended August 18, 2017). Average VLCC (very large crude carrier) rates rose from multiyear lows, whereas Suezmax rates fell. The cost side proved beneficial for tankers as bunker fuel prices slipped. In this part, we’ll look at analysts’ target prices.

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Revisions

In Week 33, no analysts revised their target prices or recommendations for crude tanker stocks. However, in the previous week, Maxim Group reduced its target price for Nordic American Tankers (NAT) stock from $5 to $4 and maintained a “sell” rating.

In Week 30, 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. JPMorgan Chase reduced the target price for Navios Maritime Midstream Partners (NAP) to $9.50 from $10.

Consensus recommendations

  • two analysts recommended “strong buy,” three recommended “buy,” and two recommended “hold” for Gener8 Maritime Partners (GNRT)
  • five analysts recommended “hold,” two recommended “sell,” and two recommended “strong sell” for Nordic American Tankers (NAT)
  • one analyst recommended “buy,” three recommended “hold,” and one recommended “sell” for Frontline (FRO)
  • two analysts recommended “strong buy,” six recommended “buy,” and two recommended “hold” for Tsakos Energy Navigation (TNP)
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