Deutsche Bank Upgrades Overseas Shipholding Group (OSG) to Hold; Risk/Reward Shifted Closer to Neutral

Deutsche Bank upgraded Overseas Shipholding Group (NYSE: OSG) from Sell to Hold with a price target raised from $10 to $12.

Deutsche analyst says, "We are taking profits on OSG which we previously downgraded to Sell. The stock has underperformed the market to date since August 3, declining 35.7% while the S&P 500 is up 4.3% over the same period. While we continue to expect weakness in the tanker market this year and believe OSG is at a modest risk of facing liquidity constraints as it refinances its debt in early 2013, we believe this is now being priced into the shares and the risk reward profile has shifted closer to neutral."

For an analyst ratings summary and ratings history on Overseas Shipholding Group click here. For more ratings news on Overseas Shipholding Group click here.

Shares of Overseas Shipholding Group closed at $12.66 yesterday.

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