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Frontline’s Target Price Was Cut in Week 47

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In this series, we’ll see how analysts revised target prices for crude tanker companies in the last four weeks, followed by consensus recommendations for these companies.

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Revisions

In Week 47, Morgan Stanley reduced the target price for Frontline (FRO) to $5 from $5.50. In Week 46, Teekay Tankers’ (TNK) target price was reduced to $2 from $5 by Deutsche Bank. In Week 45, Teekay Tankers’ target price was cut from $1.60 to $1.30 by Bank of America Merrill Lynch. Nordic American Tankers’ (NAT) target price was reduced by Morgan Stanley from $6.50 to $5. NAT’s target price was reduced by Evercore to $4 from $4.50.

Week 44

In Week 44, Wells Fargo revised its target prices for the following three crude oil tanker companies:

  • Nordic American Tankers’ target price was reduced from $4 to $3.50.
  • Euronav’s (EURN) target price was reduced from $9.25 to $9.
  • Frontline’s (FRO) target price was reduced from $6.50 to $6.

Consensus ratings

  • Of the nine analysts covering Nordic American Tankers (NAT), none of them are bullish on the stock. About 55% of them are neutral, while 45% are bearish. The consensus target price is $4.35, which implies a potential upside of 7.4% from the market price of $4.05 on November 28, 2017.
  • Five analysts gave recommendations for Frontline, and 20% of them are bullish on the stock. About 60% are neutral, and 20.0% are bearish. The consensus 12-month target price is $5.90, which implies a potential upside of 9.3% from the market price of $5.40 on November 28, 2017.
  • Seven analysts gave recommendations for Gener8 Maritime Partners (GNRT), and 72% are bullish, while 28% are bearish on the stock. The consensus 12-month target price is $6.08, which implies a potential upside of 28.3% from the market price of $4.74 on November 28, 2017.
  • Ten analysts gave recommendations on Teekay Tankers, and 30% are bullish, 50% are neutral, and 20% are bearish on the stock. The 12-month consensus target price is $2.10, which implies a potential upside of 28% from the market price of $1.64 on November 28, 2017.
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