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J.P. Morgan Revises Target Price for Two Crude Tanker Companies

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Revisions

On January 19, 2018, J.P. Morgan reduced its target price for Euronav to $8 from $9. On the same day, Degroof Petercam raised Euronav’s target price. J.P. Morgan also revised its target price for Tsakos Energy Navigation (TNP). It reduced TNP’s target price to $5.5 from $6. In the first week of 2018, UBS downgraded Gener8 Maritime Partners (GNRT) to “neutral” from “buy” and raised the target price to $6.75 from $6.5.

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Consensus ratings

  • Of the nine analysts covering Nordic American Tankers (NAT), only one analyst gave a “buy” recommendation. About 55% of the analysts are neutral, while 33% are bearish. The consensus target price is $3.74, which implies a potential upside of 41.6% from the market price of $2.64 on January 22, 2018.
  • Seven analysts gave recommendations for Frontline (FRO). Of these analysts, 14% are bullish on the stock, ~57% are neutral, and 29% are bearish. The consensus 12-month target price is $5.36, which implies a potential upside of 8.7% from the market price of $4.93 on January 22, 2018.
  • Seven analysts gave recommendations for Gener8 Maritime Partners (GNRT). Of the analysts, 57% are bullish, and 43% are bearish on the stock. The consensus 12-month target price is $6.6, which implies a potential upside of 6.5% from the market price of $6.2 on January 22, 2018.
  • For Teekay Tankers (TNK), 12 analysts gave recommendations. Of the analysts, 33% are bullish, 50% are neutral, and 17% are bearish on the stock. The 12-month consensus target price is $2.06, which implies a potential upside of 51.4% from the market price of $1.36 on January 22, 2018.
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