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Fly News Breaks for April 24, 2019
NAO
Apr 24, 2019 | 07:26 EDT
BTIG analyst Gregory Lewis initiated Nordic American Offshore with a Buy rating and a price target of $5, saying the offshore supply vessel is "ripe with counter-cyclical investment opportunities " amid its multi-year downturn. The analyst is positive on the company's balance sheet needs being addressed after it secured a new $133M term loan that matures in 2023, adding that Nordic American Offshore can now "focus on building out the company at the bottom of the cycle."
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