Very Mixed Analyst Bag on Shipping and Tankers

These are how the Canaccord Genuity ratings were issued in the tanker sector.

Ardmore Shipping Corp. (NYSE: ASC) was started as a Buy with a $17 price target. After closing at $12.66, this call is right in line with the $17.17 consensus price target. The firm’s report called it a stout tanker.

DHT Holdings Inc. (NYSE: DHT) was a “double the hull, double the ton” call. The firm initiated coverage as Buy and assigned a $10 price target. With a $6.64 close, its consensus price target is also close to $10.10.

Navios Maritime Acquisition Corp. (NYSE: NNA) was started as Hold with a $3.75 price target. This is a 5% yield, and the share price of $3.48 does still imply at least some upside. Navios Maritime’s consensus price target from analysts is $5.40.

Nordic American Tankers Ltd. (NYSE: NAT) is one of the better known shippers, but Canaccord Genuity started coverage with a very ugly Sell rating. The price target of $7 is also more than $2 lower than the $9.08 close. The consensus price target is closer to $9.50.

Scorpio Tankers Inc. (NYSE: STNG) was given only a Hold rating and a $9 price target. Interestingly enough, this Hold looks like a “Sell” because Scorpio closed at $9.71 here. That 3.9% yield is not enough to make up for the expected valuation, and Canaccord’s report teased that it is in its nature to sting.

Tsakos Energy Navigation Ltd. (NYSE: TNP) was given a positive rating and was credited as having a little bit of everything. The firm started coverage as Buy and assigned a $9.50 price target, implying more than 40% upside from the $6.63 close. The consensus price target is $9.77.

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