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Nordic American Tankers: Near term challenges remain - CS

File Image (CREDIT: AdobeStock / (c) Carabay)

Posted by Joseph Keefe

Oil tanker company's shares down 1.8 pct at $2.15 premarket.
Credit Suisse halves PT to $2, says near-term challenges remain. "On the heels of the second-worst year for tankers in 20 years, this seems to be the growing consensus," said Credit Suisse. While strong oil demand should help move market balance, CS says another year of above-average fleet growth, OPEC holding back export volumes will keep market depressed in 2018
1 of 9 brokerages rate the stock "buy", 5 "hold" and 3 "sell" or lower; Median PT $2.50. The stock plunged 70 pct in 2017, and has declined 11 pct this year
Reporting by Amy Caren Daniel

Feb 13, 2018

 

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