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Analysts’ Recommendations for Crude Tankers in Week 36

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Dec. 4 2020, Updated 10:53 a.m. ET

Week 36

The crude tanker index rose in week 36. However, crude tanker stocks had a mixed performance. Average VLCC (very large crude carrier) rates rose from multiyear lows. Suezmax rates also rose from the previous week. On the other hand, Aframax rates fell. In this part, we’ll look at analysts’ recommendations for crude tankers and analysts’ recent revisions.

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Revisions

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

Analyst recommendations

  • Out of nine analysts, none of the analysts gave a “strong buy” or “buy” to Nordic American Tankers. 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.
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