UPDATE: UBS Starts Tsakos Energy (TNP) at Buy
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Price: $24.74 +0.32%
Rating Summary:
7 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
7 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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(Updated - March 14, 2014 1:44 PM EDT)
UBS initiated coverage on Tsakos Energy (NYSE: TNP) with a Buy rating and a price target of $9.00.
Analyst Joshua Katzeff said, "Although TNP owns a seemingly diversified fleet of crude, product, LNG and shuttle tankers, the company's core exposure is in the more commoditized crude and product tanker segments. Given our bullish outlook on crude and product, we view TNP's 0.98x P/NAV, the lowest in our tanker sector, as a highly attractive entry point. A smaller free float and diversified fleet may account for some of the discount, but we do not believe it is fully warranted and see upside in its valuation to $9/share."
For an analyst ratings summary and ratings history on Tsakos Energy click here. For more ratings news on Tsakos Energy click here.
Shares of Tsakos Energy closed at $6.55 yesterday.
UBS initiated coverage on Tsakos Energy (NYSE: TNP) with a Buy rating and a price target of $9.00.
Analyst Joshua Katzeff said, "Although TNP owns a seemingly diversified fleet of crude, product, LNG and shuttle tankers, the company's core exposure is in the more commoditized crude and product tanker segments. Given our bullish outlook on crude and product, we view TNP's 0.98x P/NAV, the lowest in our tanker sector, as a highly attractive entry point. A smaller free float and diversified fleet may account for some of the discount, but we do not believe it is fully warranted and see upside in its valuation to $9/share."
For an analyst ratings summary and ratings history on Tsakos Energy click here. For more ratings news on Tsakos Energy click here.
Shares of Tsakos Energy closed at $6.55 yesterday.
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