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Evercore Downgraded DHT and Revised Companies’ Target Prices

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Revisions in week 30

In week 30, the week ending July 27, Evercore downgraded one crude tanker company and revised other companies’ target prices.

On July 24, Evercore downgraded DHT Holdings (DHT) to “in line” from “outperform” and reduced the target price to $4.5 from $5. Evercore reduced the target prices for following crude tanker companies:

  • Tsakos Energy Navigation’s (TNP) target price was reduced to $4.5 from $5.
  • Euronav’s (EURN) target price was reduced to $11 from $12.
  • Teekay Tankers’ (TNK) target price was reduced to $1.5 from $2.

Week 29

In week 29, Morgan Stanley raised Nordic American Tankers’ (NAT) target price to $2.5 from $2.25. On the same day, Morgan Stanley raised DHT Holdings’ target price to $5.5 from $5.

Analysts’ ratings

  • Of the six analysts covering Nordic American Tankers (NAT), none of the analysts are bullish on Nordic American Tankers. Of the analysts, ~67% are neutral and recommend a “hold,” while 33% are bearish and recommend a “sell.” The consensus target price of $2.31 implies 2.12% downside to Nordic American Tankers’ current price of $2.36.
  • Of the six analysts covering Frontline (FRO), 33% are bullish and recommend a “buy,” ~33% are neutral, and 34% are bearish. The consensus target price of $5.23 implies a 0% return to Frontline’s current price of $5.23.
  • Of the ten analysts covering Euronav (EURN), 80% are bullish and 20% are bearish. The consensus target price of $10.78 implies 27.5% upside to Euronav’s current price of $8.45.
  • Of the eight analysts covering Teekay Tankers (TNK), 50% are bullish, 37% are neutral, and 13% are bearish. The consensus target price of $1.54 implies a 55.02% upside to Teekay Tankers’ current price of $0.99.
  • Of the 14 analysts covering DHT Holdings (DHT), 71% are bullish and 29% are neutral. The consensus target price of $5.31 implies 20.96% upside to DHT Holdings’ current price of $4.39.

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