Univest Starts Pyxis Tankers (PXS) at Buy
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Univest analyst James Jang initiates coverage on Pyxis Tankers (NASDAQ: PXS) with a Buy rating and a price target of $1.70.
The analyst commented, "We see a number of catalysts in the near-term to enable Pyxis to realize outsized earnings and coupled with the company’s streamlined operations, we expect higher profitability relative to its product tanker peers. In the medium-, and long-term, we believe the increase in scrapping and manageable orderbook to help push asset values/Net Asset Values (NAV) higher."
Shares of Pyxis Tankers closed at $0.85 yesterday.
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