BTIG analyst Gregory Lewis upgraded Nordic American Tankers to Buy with a price target of $4. The analyst notes that tanker rates had undergone a "nuclear winter" over the past 2 years, but crude spot rates have finally started to show "tangible" signs of recovery, with Suezmax prices rising to over $70k/d presently from $30k/d last month and $16k/d from 2017 through the first half of 2019. Lewis notes that the price spike has been driven by disruptions from the attacks on Saudi Arabia and the "sanctioning of vessels" by some of the Chinese shipping entities, but he still sees the net cash being generated by higher prices as "real."