Cantor Fitzgerald Upgrades Nordic American Tanker Shipping Ltd. (NAT) to Hold; Valuation Call

Cantor Fitzgerald upgraded Nordic American Tanker Shipping Ltd. (NYSE: NAT) from Sell to Hold, price target cut $1 to $14.

Cantor analyst said, "While we suggest the company's full spot exposure could keep profitability weak for the near-term, we believe the company's Suezmax-only focus and low leverage are attractive. Furthermore, we believe the current valuation is more reasonable in relation to our NAV estimate. We now expect the company to report 2011 EPS and EBITDA of ($0.84) and $31 million (from ($0.69) and $37 million), respectively. For 2012, we look for the company to generate EPS of ($0.44) (from $0.01) and EBITDA of $60 million (from $77 million)."

For more ratings news on Nordic American Tanker Shipping Ltd. click here and for the rating history of Nordic American Tanker Shipping Ltd. click here.

Shares of Nordic American Tanker Shipping Ltd. closed at $14.38 yesterday.

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