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Fly News Breaks for January 8, 2020
STNG, NAT, INSW, DSSI
Jan 8, 2020 | 08:56 EDT
B. Riley FBR analyst Liam Burke expects another strong performance for tanker stocks in 2020. Tanker fleet capacity spiked in 2019, but order books are declining for 2020 and 2021, and increased U.S. oil production will be a positive for the tanker sector, Burke tells investors in a research note. The analyst raised his price target for Buy-rated Diamond S Shipping (DSSI) to $25 from $19, for Neutral-rated International Seaways (INSW) to $32.50 from $27.25, for Buy-rated Nordic American Tankers (NAT) to $7.50 from $4.75 and for Buy-rated Scorpio Tankers (STNG) to $55 from $40.
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