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JPMorgan Chase: Revisions for TNP and EURN

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Revisions

JPMorgan Chase revised its recommendations and target prices for most of the crude tanker companies in week 12—the week ending March 23, 2018.

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Tsakos Energy Navigation

On March 23, 2018, JPMorgan Chase reduced Tsakos Energy Navigation’s (TNP) target price to $5 from $5.5. Of the 12 analysts who gave recommendations on Tsakos Energy Navigation, 67% are bullish and 33% are neutral on the stock. The consensus 12-month target price for Tsakos Energy Navigation is $5.1, which implies a potential upside of 51.7% from the market price on March 26, 2018.

Euronav

On March 23, 2018, JPMorgan Chase raised Euronav’s (EURN) target price to $9 from $8.5. Of the 12 analysts who gave recommendations on Euronav, 75% are bullish on the stock and 25% are neutral. The consensus 12-month target price for Euronav is $10.29, which implies a potential upside of 21.7% from the market price on March 26, 2018.

Sell ratings

None of the analysts are bearish on Tsakos Energy Navigation or Euronav. In contrast, 9% of the analysts are bearish on Teekay Tankers (TNK), 50% of the analysts are bearish on Navios Maritime Midstream Partners (NAP), and 43% of the analysts are bearish on Frontline (FRO).

Next, we’ll discuss more revisions for crude tanker stocks.

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