According to Reuters, the consensus rating for Gener8 Maritime Partners (GNRT) is 2.17, which means a “buy.”
Six analysts gave recommendations on Gener8 Maritime Partners. Three analysts are bullish on the stock. Two analysts recommended a “strong buy,” while one analyst recommended a “buy.” Three of the analysts recommended a “hold.” None of the analysts recommended a “strong sell” or “sell.”
The consensus 12-month target price for Gener8 Maritime Partners is $6.8, which implies a potential upside of 10.4% from the market price of $6.16 on May 25.
Gener8 Maritime has a special meeting on June 11. Shareholders will vote on a proposal to approve the company’s merger with Euronav. In December 2017, Euronav and Gener8 Maritime Partners announced a stock-for-stock merger for all of Gener8 Maritime Partners’ issued and outstanding shares. After the merger, Gener8 Maritime Partners will become a wholly owned subsidiary of Euronav. Euronav and the combined company will remain listed on the NYSE and Euronext under the ticker “EURN.”