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JPMorgan Chase Upgraded Navios Maritime Midstream Partners

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Apr. 26 2018, Updated 7:31 a.m. ET

Crude tankers in week 16

In this part, we’ll discuss analysts’ revisions for crude tanker companies in week 16—the week ending April 20.

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Week 16 revisions

  • On April 20, JPMorgan Chase upgraded Navios Maritime Midstream Partners (NAP) by two notches to “overweight” from “underweight.” At the same time, JPMorgan Chase reduced the target price to $6 from $7.
  • On April 20, JP Morgan Chase downgraded DHT Holdings (DHT) to “neutral” from “overweight.” On the same day, Jefferies reduced the target price to $5.
  • Jefferies reduced Tsakos Energy Navigation’s (TNP) target price to $5.
  • Jefferies reduced Nordic American Tankers’ (NAT) target price to $2.5.

Previous revisions

In weeks 15, 14, and 13 none of the analysts revised their target prices or recommendations for crude tanker companies.

In week 12, JPMorgan Chase downgraded Navios Maritime Midstream Partners (NAP) to “underweight” from “neutral.” JPMorgan Chase upgraded DHT Holdings (DHT) to “overweight” from “neutral.” JPMorgan Chase also revised the target prices for various crude tanker companies.

In week 9, Frontline’s (FRO) target price was reduced to $3.5 from $4.5. In week 8, Evercore reduced Frontline’s target price to $3.5 from $4. In week 7, Credit Suisse reduced Nordic American Tankers’ target price to $2 from $4 and maintained a “neutral” rating. Evercore reduced Nordic American Tankers’ target price to $1.5 from $3.

Morgan Stanley cut Teekay Tankers’ (TNK) target price to $1.3 from $2. Morgan Stanley upgraded DHT Holdings (DHT) to “overweight,” while UBS reduced DHT Holdings’ target price to $4 from $4.25.

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