In this part, we’ll discuss Wall Street analysts’ target prices for the two crude tanker stocks with the best returns YTD (year-to-date). Analysts expect one of these companies to have positive returns in the next 12 months.
DHT Holdings (DHT) was the best-performing stock among peers on a YTD basis. About 71% of Wall Street analysts tracking DHT Holdings stock recommended a “buy” or some equivalent as of June 28. The remaining 29% recommended a “hold,” while none of the analysts recommended a “sell.” Analysts’ consensus target price for DHT Holdings is $5.21 as of June 28. Currently, DHT Holdings is trading at $4.69, which implies a 53.1% return in the next 12 months at the current price.
Frontline was the second-best-performing stock so far this year among peers. Analysts’ consensus rating for Frontline (FRO) is three, which means a “hold.” About 33% of the analysts have recommended a “buy” or some equivalent as of June 28. Approximately 33% have recommended a “hold,” while the remaining 34% of analysts recommend a “sell” or some equivalent.
Analysts’ consensus target price for Frontline was $5.32 as of June 28. Currently, Frontline is trading at $5.87, which implies a potential downside of 9.4% in the next 12 months at the current price.
In the next part, we’ll discuss Wall Street analysts’ recommendations for other top-performing crude tanker stocks so far this year: Nordic American Tankers (NAT), Euronav (EURN), and Teekay Tankers (TNK).